Better.com, an online real-estate platform based in the U.S., has won $200M Series D round of funding led by L Catterton.
With this investment Catterton joins the company’s league of shareholders including Activant Capital, Ally Financial, American Express Ventures, Ping An Global Voyager Fund, and 9Yards Capital. The company has raised over $400M in equity capital since inception.
Better was founded in 2016, and till date the company has funded $25B in home loans and provided over $7B in cumulative coverage through Better Cover and Better Settlement Services. Over the last year, Better has grown its funded loan volume over 4x, the company said.
The company was ranked #15 on CNBC’s Disruptor 50 2020 list, as well as being listed to Forbes FinTech 50 for 2020.
With a new funding round, our founder and CEO @vishalgarg_ is so excited to continue “to make homeownership simpler, faster, and more accessible for all Americans.” Read more from @nasiripour @crystalttc on @business: https://t.co/v8zssKLAv3
— Better.com (@betterdotcom) November 10, 2020
“Better was founded to help eliminate unnecessary barriers to home financing,” said Vishal Garg, CEO and founder of Better.com. “We’re committed to working tirelessly for our customers, growing our team and building out our technology to provide them the best possible experience when pursuing homeownership.”
“Better.com has overhauled the process of getting a mortgage, making the process faster, easier and cheaper for Americans. We’re proud to support them,” said Michael Farello, partner at L Catterton.
Better’s rise as a leading online lender comes at a time when 73 percent of American consumers are embracing FinTech as the “new normal” with 67 percent reporting a plan to continue managing most of their finances digitally after COVID-19, the company said.