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PropTech raises fresh round gearing up for IPO

Founder Vishal Garg (Credit: Better Mortgage)

Online mortgage lender revealed it raised $200 million in a series D financing that put the New York-based startup at a $4 billion valuation. The round was led by private equity firm L Catterton, according to Bloomberg.

  • What they do: The online lending platform simplifies the home lending process by connecting prospective buyers with lenders. They reduce costs and inefficiencies imposed by traditional brokers and intermediaries. Better Mortgage intends to file for an IPO confidentially as soon as January.
  • Heard on the Street: CEO Vishal Garg: “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.”
  • Existing NYC office space: The startup signed a lease last year for 44,000 square feet at 3 World Trade Center with the option to take two additional floors. [Bloomberg+HousingWire]

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