Home ownership platform, Better.com, closes Series C at $160 million

NEW YORK / NEW DELHI: Better.com, the home ownership platform in the United States, recently closed its Series C fundraise at $160 million, bringing the company’s total funding to $254 million to date. Activant Capital, Ping An Global Voyager Fund, Ally Financial, Citi, AGNC, Healthcare of Ontario Pension Plan (HOOPP) and American Express Ventures joined existing shareholders Goldman Sachs, Pine Brook, and Kleiner Perkins in the round.

Better is a full-stack digital mortgage company, speeding and simplifying the process to purchase or refinance a home. It ahs offices in New York, San Francisco, Irvine, and Gurgaon. It is a direct lender that provides a fast digital mortgage experience. The new investment round comes amid a period of growth for the fintech disruptor.

Better.com was created in 2016 after its founder, Vishal Garg, lost a home to an all-cash buyer due to a slow and antiquated traditional mortgage process. He used the money he had saved for the down payment to start Better.com, which digitised the mortgage process to eliminate commissions, fees, unnecessary steps, and time-wasting branch appointments. Customers are able to upload and eSign documents, get loan estimates in seconds and a pre-approval within minutes.


“The capital we’ve raised will enable us to accelerate our investment in product development, grow our strategic partnerships, expand our team and scale our platform to continue making it easier for borrowers to get home financing,” said Vishal Garg in a statement.

In the last eight months, Better scaled its India employee strength from 50 to 300 and moved to a new office in Gurgaon.