Better Mortgage Attracting Better And Better Investors
Digital mortgage company Better Mortgage continues to attract top investors. The company announced Thursday that Citigroup had made an unspecified investment.
According to a HousingWire report, the company describes Citi’s investment as an “add-on” to the company’s $70 million Series C funding. But the news release pegs the company’s Series C funding at $75 million after Citi’s investment, which would lead one to believe that Citi invested $5 million in the company.
Last month, the company announced that American Express Ventures, the strategic investment group of American Express, led its $70 million Series C funding round. Another of the biggest names in financial services is also one of Better Mortgage’s backers. That would be Goldman Sachs.
Regardless of the dollar amount, the fact that Citi, Amex, and Goldman Sachs have invested in Better shows that the company and its business model has some appeal. Better’s platform works by moving the mortgage process completely online. Its customers can upload and eSign documents, have instant access to lending discounts and receive personalized mortgage recommendations.