About Better Mortgage
Better Mortgage is a company based in New York (United States) founded in 2014 by Zander Rafael and Andrew Unger.. Better Mortgage has raised $980 million across 6 funding rounds from investors including SoftBank, Citi and American Express. Better Mortgage has completed 3 acquisitions, including Birmingham Bank, London House Exchange and Trussle. Better Mortgage offers products and services including Mortgage Application Platform, Refinance Service, and HELOC Service. Better Mortgage operates in a competitive market with competitors including loanDepot, Mr. Cooper, Hometap, BASIC Home Loan and Rocket Mortgage, among others.
- Headquarter New York, United States
- Founders Zander Rafael, Andrew Unger
- Stage Unicorn
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$980 M (USD)
in 6 rounds
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Latest Funding Round
$500 M (USD), Series E
Apr 08, 2021
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Investors
SoftBank
& 15 more
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Employee Count
Employee Count
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Investments & Acquisitions
Birmingham Bank
& 2 more
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Products & Services of Better Mortgage
Better Mortgage offers a comprehensive portfolio of products and services, including Mortgage Application Platform, Refinance Service, and HELOC Service. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
AI tool for applying and approving home purchase mortgages online.
Platform for refinancing existing loans with rate comparisons.
Application for home equity lines of credit with fast access.
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Software Development Team
58 people
Operations Team
15 people
Legal and Compliance
14 people
Finance and Accounting
13 people
Leadership Team
13 people
Senior Team
12 people
Human Resources and Administration
10 people
Sales and Marketing
6 people
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Funding Insights of Better Mortgage
Better Mortgage has successfully raised a total of $980M across 6 strategic funding rounds. The most recent funding activity was a Series E round of $500 million completed in April 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series E — $500.0M
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First Round
First Round
(14 Jun 2016)
- Investors Count 16
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Apr, 2021 | Amount | Series E - Better Mortgage | Valuation |
investors |
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| Nov, 2020 | Amount | Series D - Better Mortgage | Valuation | L Catterton | |
| Aug, 2019 | Amount | Series C - Better Mortgage | Valuation | AGNC Investment corporation , Activant Capital |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Better Mortgage
Better Mortgage has secured backing from 16 investors, including institutional and venture fund investors. Prominent investors backing the company include SoftBank, Citi and American Express. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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L Catterton is recognized as a leading consumer-focused private equity group.
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Founded Year | Domain | Location | |
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Venture capital fund investing in tech sectors
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Founded Year | Domain | Location | |
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Venture capital firm investing in early-stage tech startups
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Better Mortgage
Better Mortgage has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include Birmingham Bank, London House Exchange and Trussle. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Mortgage advice is offered online to buyers and homeowners.
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2015 | ||||
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Individual properties are traded on a regulated UK investment platform.
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2014 | ||||
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Commercial banking services are provided in the United Kingdom.
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1955 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Better Mortgage
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Better Mortgage Comparisons
Competitors of Better Mortgage
Better Mortgage operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as loanDepot, Mr. Cooper, Hometap, BASIC Home Loan and Rocket Mortgage, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Consumer loans for personal and home needs are provided online.
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| domain | founded_year | HQ Location |
Provider of an app-based platform for residential mortgage loans
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| domain | founded_year | HQ Location |
Provider of Home loans
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| domain | founded_year | HQ Location |
Home loan products are compared and applications supported via platform.
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| domain | founded_year | HQ Location |
Residential mortgage loans are offered via an online platform.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Better Mortgage
Frequently Asked Questions about Better Mortgage
When was Better Mortgage founded?
Better Mortgage was founded in 2014 and raised its 1st funding round 2 years after it was founded.
Where is Better Mortgage located?
Better Mortgage is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Better Mortgage a funded company?
Better Mortgage is a funded company, having raised a total of $980M across 6 funding rounds to date. The company's 1st funding round was a Series C of $160M, raised on Jun 14, 2016.
What does Better Mortgage do?
Online marketplace offering residential mortgage loans for consumers. It offers a platform connecting borrowers with institutional investors for fixed and adjustable rates of conventional and jumbo loans to finance properties including single-family homes, townhouses, condominiums, and planned unit development. Once the loan has been funded, it transfers the loan to an investor, providing servicing of the loan. It also provides title and house refinancing loans and house owner insurance.
Who are the top competitors of Better Mortgage?
Better Mortgage's top competitors include loanDepot, BASIC Home Loan and Rocket Mortgage.
What products or services does Better Mortgage offer?
Better Mortgage offers Mortgage Application Platform, Refinance Service, and HELOC Service.
How many acquisitions has Better Mortgage made?
Better Mortgage has made 3 acquisitions, including Birmingham Bank, London House Exchange, and Trussle.
Who are Better Mortgage's investors?
Better Mortgage has 16 investors. Key investors include SoftBank, Citi, American Express, Ally, and Kleiner Perkins.
What is Better Mortgage's valuation?
The valuation of Better Mortgage is $6B as of Apr 2021.
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