Milo, a FinTech aimed at transforming how consumers access financial solutions, has scored $17m in its Series A funding round.
Californian venture capital firm M13 served as the lead investor, with commitments also coming from QED Investors and MetaProp.
With the capital infusion, the company hopes to further its product development efforts and accelerate its hiring efforts to meet the demand for crypto mortgages.
The platform helps US consumers get a mortgage. Earlier this year, the company released the first-ever 30-year crypto mortgage and has already started processing applications from its waitlist of 7,400 consumers.
Milo’s first product was a mortgage solution for foreign nationals, which has grown by over 250% in the past 12 months and processes $500m in applications from over 90 countries.
Josip Rupena CEO of Milo said, “This round of financing is a validation of Milo’s vision to empower global and crypto consumers and the opportunity to bridge the digital world with real world real estate assets.
“This is a multi billion dollar opportunity and we are proud to be pioneering the efforts in the US for consumers that have unconventional wealth. We’re thrilled to have amazing investor support that recognizes that the world is changing and look forward to them being on this journey with us.”
The FinTech company previously raised $6m in a seed funding round back in 2021. The round was backed by QED Investors, MetaProp and 10xCapital.
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