Lending startup Tomo Networks announced on Wednesday that it received $70 million in seed funding, after initially raising $40 million eight months ago. Ribbit Capital led the second round, alongside DST Global, NFX, SVB Capital and Zigg Capital,
Zillow’s former Vice President of its Premier Agent business, Carey Armstrong, and former President of media and marketplace, Greg Schwartz, co-founded Tomo in October 2020 with the aim of improving the buying experience — a
"In today's housing market, buying is not an enjoyable experience; it has become competitive, stressful, and confusing,” Schwartz said in a press release. “In the current frenzy, what is being lost is the personal touch, the humanity and the excitement that should go along with buying a home.”
To strengthen the buyer’s position in the marketplace and
Headquartered in Stamford, Conn., Tomo initially targeted markets it deemed “crippling” to