NEW YORK, Jul 14, 2021 / PRNewswire / – Morty, an online mortgage marketplace, announced the closure today $ 25 million Series B funding round, bringing the total investment to date has reached USD 38.4 million USA… March Capital spearheaded a round involving Rethink Impact and existing investors Thrive Capital, Lerer Hippeau, Prudence Holdings, FJ Labs and Metaprop.
Founded in 2016, Morty is an online mortgage marketplace that provides home buyers with the ability to evaluate competitive offers from multiple lenders and then block and close their loans using an automated platform. Led by a CEO specializing in product development and engineering. Nora Apsel and technical director Adam RothblattMorty has transformed the complex, time-consuming and autonomous process of obtaining a mortgage into a high-tech experience that helps home buyers in the process.
As a technology and logistics company, Morty has also reimagined the role of people in lending. Morty’s platform provides homebuyers with efficient self-service capabilities suitable for today’s booming housing market fueled by the pandemic, with on-demand support from its team of mortgage experts. Over the past twelve months, Morty’s has processed more than half a billion dollars in loans and revenue is up 800% year-over-year. The company is currently licensed in 36 states and Washingtonand aims to serve home buyers nationwide by the end of 2021.
Morty will use the funds for important investments in recruitment, consumer marketing, and product expansion. The company will also explore B2B2C opportunities to bring mortgage technology into the larger real estate ecosystem.
“The last twelve months have been a watershed for the housing market,” he said. Nora Apsel, Co-founder and CEO of Morty. “When home buyers rushed to shop, Morty was there to provide personalized online loan choices, lock in competitive rates, and stand shoulder to shoulder with them until closing time. Our business model and our philosophy are based on protecting home buyers. This investment will enable us to develop our product and develop partnerships that are consistent with this worldview. ”
“Through its digital mortgage market, Morty is revolutionizing the home buying process by taking on the often tedious and tedious process of buying a home,” he said. Julia Klein of March capital… “Morty’s proprietary mortgage automation platform and partnerships with leading lenders offer homebuyers an optimized experience and highly competitive rates. We place great trust in this team and are delighted to partner with them to promote home ownership, which will remain the cornerstone of the US economy. “
“We’re thrilled to support a technologist like Nora as she and Morty’s team bring much-needed innovation to an industry that’s lagging behind in technology adoption,” he said. Jenny Abramson, Founder and Managing Partner at Rethink Impact, the largest venture capital fund in the United States, investing in women leaders who use technology to positively impact. “In doing so, Morty not only builds a highly scalable business, but also helps borrowers save money and avoid the headaches and mistrust that are hallmarks of mortgage lending for too many.”
Morty is a home buyer advocate. With the help of the product and people, we are rethinking the way we get a mortgage. Morty’s online marketplace allows you to evaluate competitive mortgage offers from multiple lenders and then walks you through the entire process, from loan fixing to loan closure. Our team of mortgage experts are behind the scenes, ready to help every step of the way or give you some space. Morty is based in New York and supports home buyers with purchases in 36 states and Washington… To find out more or check loan options, visit www.morty.com…
About March Capital
March Capital is a leading venture capital development company headquartered in Santa monica, california and global investing since 2014. In March, entrepreneurs with a provocative vision are identified to lead companies of the future and beyond, ready for hyper-growth, and then dare to go all-in, running rounds with deep conviction and risk of concentration. With over 1 billion in capital in 4 funds and 30 of the leading technology companies in the market, March is accelerating the digital transformation of cloud software, automation, AI and IT infrastructure. Our vision is to create a best-in-class technology investment platform, combining intense industry focus, patience, access to a global network of leaders (including the creation of the Montgomery Summit) and high-impact portfolio participation to inspire and accelerate the work of outstanding companies. …
For more information on how March Capital seeks to partner with outstanding entrepreneurs and teams to build major global technology companies, visit www.marchcp.com