Homeownership Platform Company Better.com Raises $200 Million

By Annie Baker ● November 13, 2020
  • Better.com — one of the fastest-growing homeownership platforms in the country — announced it has raised $200 million in Series D funding. These are the details.

Better.com — one of the fastest-growing homeownership platforms in the country — announced it has raised $200 million in Series D funding. L Catterton served as lead investor and they were joined by existing shareholders Activant Capital, Ally Financial, American Express Ventures, Ping An Global Voyager Fund, and 9Yards Capital in the round.

The new investment round comes on the heels of significant growth for the company. Over the last year, Better has grown its funded loan volume over 4x.

Launched in 2016, Better digitized the mortgage process by offering a commission-free, transparent, digital model that utilizes technology to make the process of financing a home more efficient. Along with its mortgage offering, Better is also streamlining the fragmented home-financing journey by offering clients integrated access to title insurance, homeowners insurance, and leading real estate agents across the country on its platform.

So far, Better.com has funded $25 billion in home loans and provided over $7 billion in cumulative coverage through Better Cover and Better Settlement Services, the insurance divisions of Better.com. Better.com has raised over $400 million in equity capital since inception.

KEY QUOTES:

“Better was founded to help eliminate unnecessary barriers to home financing. 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.”

“We’re excited about new and existing investors continuing to support our mission to make homeownership simpler, faster and more accessible for all Americans.” 

— Vishal Garg, CEO and founder of Better.com

“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.” 

— Michael Farello, partner at L Catterton