Valon, a modern mortgage servicing platform, has raised $100 million in Series C funding. The round was led by WestCap (which recently invested in HUMAN Security and FLYR) with participation from new and existing investors, including Andreessen Horowitz (which recently backed Stoïk and Setpoint). With this round, the total funding raised by the company to date accounts for $230 million.
The latest round of funding will further accelerate its product development and market expansion, positioning Valon as the go-to software platform for an industry poised for transformation.
Transforms mortgage servicing industry
A mortgage servicing platform is a software system that handles the administrative tasks associated with managing mortgage loans. It performs several functions each day to manage a borrower’s mortgage payments, annual taxes, and insurance premiums.
The company solves some of the most deep-rooted challenges in the $25B mortgage servicing market, which has seen little disruption in decades. The company’s robust platform delivers superior operational efficiency for mortgage servicers and a more seamless experience for homeowners.
Vertically-integrated mortgage servicing platform
Founded in 2019 by Andrew Wang, Eric Chiang, and Jonathan Hsu in New York, Valon is a modern mortgage servicing platform that is redefining the mortgage experience for consumers, lenders, and investors. It works with the mission to empower every homeowner.
By leveraging technology to streamline mortgage processes and provide homeowners access to simple, fair, and transparent services, Valon is creating a world where home ownership comes with ease, security, and financial know-how.
Valon has achieved 400% year-over-year growth and over $65 billion in mortgages serviced on its platform. Moreover, the company is expanding the market through increased consumer cross-selling, unlocking the opportunity to double or triple the total addressable market for mortgage servicers. It has also launched significant new consumer businesses in property insurance and property tax appeals.
“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,” said Andrew Wang, CEO of Valon. “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.”
“Valon has built a fundamentally better and more comprehensive solution for a market that has been characterised by limited technological innovation for decades,” said Josh Dart, Partner at WestCap, who is joining the Valon board. “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.”
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