Mortgage marketplace Own Up secures $12m in funding round

Mortgage marketplace Own Up has secured $12m in a funding, which will be used to hire more staff.

Brand Foundry Ventures served as the lead investor, with contributions also coming from previous backers Link Ventures, Listen Ventures, and TechStars Ventures.

This equity line will be used to deepen its technology capabilities and grow its customer success team.

Over the course of the year, the FinTech hopes to expand into 15 new US states. This includes California, which will be its first state on the west coast.

Own Up is already live in Colorado, Connecticut, Florida, Georgia, Maine, Massachusetts, Michigan, New Hampshire, Pennsylvania, Rhode Island and Texas.

Brand Foundry Ventures general partner Brian Spaly said, “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 behaviour.”

Founded in 2016, Own Up aims to help Americans get mortgages. Through the platform, consumers can bypass mortgage salesperson and go directly to vetted lenders that match their needs.

Users are connected to a home advisor that will support the process.

Own Up co-founder and CEO Patrick Boyaggi said,  “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.”

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