Better.com could be the next mortgage company to join the herd of
The company that fancies itself as
L Catterton, a private equity investor headquartered in Greenwich, Conn., led the round, alongside Activant Capital, Ally Financial, American Express Ventures, Ping An Global Voyager Fund and 9Yards Capital. The cash infusion comes 15 months after Better raised
The New York-based digital lender plans to use its latest pool of money to continue
"We've been able to grow nearly 500% year-on-year and on average 10% to 15% month-on-month," Vishal Garg, founder and CEO of Better.com, said in an
With lenders like Rocket, Guild Mortgage and United Wholesale Mortgage going public in recent months, speculation abounds as to whether Better's latest capital raise signals an imminent IPO. However, no official filing has been made at this time and the company declined to comment on that possibility.
The white-hot demand for refinancings and purchases lead market watchers to project 2020 originations will break annual records,