Button Finance, a mortgage lender focused on home equity, has scored $2m in its seed round.
The round was supported by entities advised by Hildene Capital Management, with commitments also coming from L&L Capital Partners. Several angel investors from the NY FinTech ecosystem.
New York-based Button Finance enables homeowners to borrow against their home equity via an online process. It claims to make quick decisions and deploy funding within five days.
Through its AI-powered underwriting platform, it can lend to borrowers that are under-served by traditional lenders. Button Finance is initially focused on home equity loans but hopes to expand into a broad range of loan products in the coming 24 months.
Button Finance CEO Jason Harris said, “Demand was strong for the round, and we were oversubscribed and happy with our new partners.
“This last year has been challenging for everyone; however, American homeowners now have more untapped equity than ever before, given the recent home price rally. Button Finance’s products empower borrowers to access their home equity, pay down high-interest debt, and make value-enhancing renovations to their homes.”
Fellow home equity loan provider Fraction recently closed its Series A funding round. The company secured $20m from QED Investors, Impression Ventures, Primetime Partners, Panache Ventures and Global Founders Capital.
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