70 Million Times Better

Digital mortgage lender Better.com announced its closing of a $70m Series C financing round from American Express Ventures and the Healthcare of Ontario Pension Plan (HOOPP), in addition to existing investors Kleiner Perkins, Goldman Sachs, and Pine Brook. The new capital will support continued growth and investment in Better’s technology platform.

The close follows a “record 2018 performance” during which Better doubled its footprint to include over half of the states in the U.S. and originated $1.3B in mortgages, representing an approximate 3x increase from the prior year.

“Buying a home is one of the biggest financial life events that our customers experience, but the process is often full of pain points. By building a mortgage platform to be fully digital from the ground up, Better Mortgage has reduced the complexity around the homebuying process. We’re excited to support Better Mortgage’s next phase of growth.” – Managing Director of Amex Ventures, Lindsay Fitzgerald.

“We believe Better Mortgage is uniquely positioned for exceptional growth in the marketplace and offers a valuable service to prospective clients. We were drawn to this investment because of its strong management team, the sophistication of its technology and the market opportunity.” – AVP of Derivatives and Fixed Income at HOOPP, Jennifer Shum.

“Better is building the future of homeownership. By re-engineering the mortgage process, removing costly commissions and creating a more efficient, reliable homebuying experience, Better is transforming how Americans buy their homes.” – Founder and CEO at Better Mortgage, Vishal Garg.