Mortgage marketplace Own Up raises $12 mn, fueling national expansion
By Pavithra R
Own Up, a mortgage marketplace changing the way consumers search for and secure home financing, has announced raising $12 mn in funding led by Brand Foundry Ventures.
The investment round also saw participation from existing investors Link Ventures, Listen Ventures, and TechStars Ventures. The FinTech is planning to use the finance to invest in the technology powering its unique digital platform, along with growing its customer success team.
Founded in 2016, Own Up brings radical transparency to the mortgage industry, leveling the playing field for consumers and empowering them to make the best financial decisions for their specific situations. Own Up has experienced rapid growth in 2020 with many American reevaluating their budgets and lifestyles. The firm helped individuals and families across the country navigate their home buying and refinancing journeys.
“We are proud of our unyielding commitment to empowering consumers with customized data and personalized advice. As a collaborative fintech company, we will continue to develop technology that eliminates information asymmetry and creates a best-in-class experience for everyone searching for a fair deal on their mortgage. This new round of funding will enable us to help more people, in more ways,” said Patrick Boyaggi, co-founder and CEO of Own Up.
Own Up through its managed marketplace provides consumers with customized market data and verified loan offers while allowing them to maintain confidentiality. Its customers can easily bypass the costly mortgage salesperson and go directly to vetted lenders that match to their needs. The firm’s free digital platform also includes access to expert Home Advisors that provide unbiased advice and ongoing support.
“Technology companies are transforming financial services and enabling consumers to achieve better financial outcomes, which is core to Own Up’s mission. In this next phase of growth, Own Up will strive to reach more buyers and homeowners through geographic expansion and become the premier online destination for any American looking to purchase or refinance. Own Up’s fresh approach is truly changing consumer behavior,” said Brian Spaly, co-founder of Bonobos and Trunk Club, and General Partner at Brand Foundry Ventures.
This year the company is planning to expand to 15 new states, including California. The brand already serves borrowers in Colorado, Florida, Georgia, Maine, Massachusetts, Michigan, Connecticut, New Hampshire, Pennsylvania, Rhode Island and Texas.
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