Online lender Better Mortgage raises $70m

Digital mortgage company Better Mortgage has closed its Series C funding round with $70 million from investors led by American Express Ventures and Goldman Sachs.

Other investors who participated in the funding round include Healthcare of Ontario Pension Plan, Kleiner Perkins, and Pine Brook. The new funding will be used in Better Mortgage’s tech and workforce.

Vishal Garg, founder and CEO at Better Mortgage says: “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.”

Lindsay Fitzgerald, MD, Amex Ventures, says: “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 home buying process.”