Valon, a mortgage servicing platform aiming to modernize loan management, recently raised $100 million in Series C funding. This funding round was led by WestCap, with contributions from new and returning investors, including Andreessen Horowitz. The new investment brings Valon’s total funding to $230 million.
The company plans to use the funds to advance its product development and expand its market presence, positioning Valon as a primary choice in mortgage servicing technology for an industry on the verge of transformation.
Modernizing Mortgage Servicing
Mortgage servicing platforms provide the tools to manage mortgage loan administration. Valon’s platform handles tasks such as payment processing, tax payments, and insurance management, aiming to streamline mortgage processes that have seen minimal innovation in the $25 billion mortgage servicing market.
By improving efficiency for mortgage servicers and creating a smoother experience for homeowners, Valon is working to address some of the market’s longstanding inefficiencies.
Building a Vertically Integrated Platform
Founded in 2019 by Andrew Wang, Eric Chiang, and Jonathan Hsu in New York, Valon’s mission is to simplify the mortgage experience for consumers, lenders, and investors alike. Using technology to enhance transparency and access, Valon envisions a future where homeowners feel secure and well-informed in their ownership journey.
Valon’s approach has resulted in a 400% year-over-year growth rate, with over $65 billion in managed mortgages. The company has also tapped into new areas, launching consumer offerings in property insurance and tax appeals, expanding its reach and market potential.
“We aim to create a forward-looking servicing software platform,” said Andrew Wang, CEO of Valon. “This funding will enable us to continue evolving our technology to bring transparency, efficiency, and a better customer experience to the mortgage servicing industry.”
Strategic Support for Long-Term Growth
Josh Dart, Partner at WestCap and new member of Valon’s board, noted, “Valon’s platform represents a step forward in an industry historically slow to innovate. Its strong growth, expanding market share, and high customer satisfaction signal its value to both mortgage servicers and homeowners.”
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By Proptechbuzz
By Ravi Kumar