Own up, a digital mortgage shopping service, has raised $25m in funding and partnered with Realtor.com, a real estate marketplace.
Founded in 2016, Own Up aims to change the way Americans shop for and secure mortgages, creating more transparency in what is otherwise an opaque process.
The funding round was led by Brand Foundry Ventures with participation also from Realtor.com. Past investors Link Ventures and Listen Ventures also backed the round.
Own up said the capital will allow it to continue to build out its innovative technology platform, expand its novel shopping experience and product offerings, and invest in the company’s people and culture.
The partnership between Own up and Realtor.com will give users direct access to Own Up’s mortgage shopping service, including personalised loan offers from its exclusive lender marketplace and real-time advice from the industry’s only mortgage shopping concierge.
Moreover, Own up said the integration with Realtor.com will allow homebuyers to gather detailed information about their home financing options as they search listings and find real estate agents.
The company stressed that the housing market has been increasingly challenging for buyers over the past 12 months, with low inventory, rising prices, higher mortgage interest rates, and high-stakes bidding wars.
Patrick Boyaggi, CEO and co-founder of Own Up, said, “From day one, our singular goal was to be a champion for the consumer and bring greater transparency to the home buying process. As the mortgage industry continues to see changes at a rapid clip, it’s crucial that consumers are armed with the right information to make the best financial decisions.
“Realtor.com plays an essential role in the home search process for so many Americans and now we’ll be able to provide mortgage education and tools to comparison shop, boosting buyer confidence as they move through the process.”
Own up’s last funding round was closed in January last year, which saw the company raise $12m led by Brand Foundry Ventures.
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