Valon, a vertically integrated mortgage servicing platform, announced the completion of its $100 million Series C funding round. This funding round was led by WestCap with participation from new and existing investors including Andreessen Horowitz, bringing Valon’s total raised capital to $230 million since its founding in 2019.
Valon addresses some of the most deep-rooted challenges in the mortgage industry with a platform that delivers superior operational efficiency for mortgage servicers and a more seamless experience for homeowners. This latest funding round will further accelerate Valon’s product development and market expansion, positioning Valon as the go-to software platform for an industry poised for transformation.
Valon achieved significant momentum, with 400% year-over-year growth and over $65 billion in mortgages serviced on its platform. And the company has grown to be a top 15 U.S. subservicer in just a few years, proving that its software can fundamentally transform the mortgage servicing business. Valon can drive greater efficiency than the rest of the market as the first end-to-end modern servicing platform, which has translated to substantial operating margin improvements for both the company and its clients.
Valon is expanding the market through increased consumer cross-sell, unlocking the opportunity to double or triple the total addressable market for mortgage servicers. And Valon’s refinance recapture rate is consistently greater than industry average, indicating strong customer retention capabilities. The company also launched significant new consumer businesses in property insurance and property tax appeals.
KEY QUOTES:
“From the very beginning, our goal has been to build the servicing software platform of tomorrow. That means bringing transparency, efficiency, and improved customer experience to mortgage servicing. This new funding demonstrates that we’ve hit the milestones to prove our software is best in class and will allow us to double down on our technology to deliver even more value to the industry.”
-Andrew Wang, CEO of Valon
“Valon has built a fundamentally better and more comprehensive solution for a market that has been characterized by limited technological innovation for decades. The company’s strong growth and market share gains, industry-leading innovative feature set, and best-in-class customer satisfaction underscore Valon’s ability to deliver meaningful value to both mortgage servicers and homeowners.”
-Josh Dart, Partner at WestCap, who is joining the Valon board
