SoftBank invests $500 million in Better com, IPO rumors grow nationalmortgagenews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalmortgagenews.com Daily Mail and Mail on Sunday newspapers.
Mortgage is suddenly sexy as SoftBank pumps $500M in Better.com at a $6B valuation
Digital mortgage lender Better.com has raised a $500 million round from Japanese investment conglomerate SoftBank that values the company at $6 billion.
The financing is notable for a few reasons. For one, that new $6 billion valuation is up 50% from the $4 billion it was valued at last November when it raised $200 million in Series D financing. It’s also up tenfold from its $600 million valuation at the time of its Series C raise in August 2019.
Secondly, it’s further proof that mortgage a traditionally “unsexy” industry that has long been in need of disruption is officially hot. For all its controversy, when SoftBank invests, people pay attention.
SoftBank bets on Better; U K bank startup takes job flexibility to a new level americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.
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On the heels of its success with Compass and Opendoor, SoftBank is on the search for its next golden goose in the real estate industry. As the fintech industry gains speed in an increasingly digital world, the Japanese-based conglomerate has used its Vision Fund to invest millions in fintech startups, with Better.com being the latest to benefit from a multi-million-dollar cash infusion.
The digital mortgage startup will receive $500 million from the SoftBank Vision Fund, according to a report by
WSJ said the two companies have been discussing terms of the deal since late last year, as Better.com’s valuation skyrocketed to $4 billion after a $200 million Series D funding round.
Better com Gets $500M Investment From SoftBank therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.