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Vesta raises $30 million for mortgage automation software

Vesta raises $30 million for mortgage automation software Image: Primary
Vesta announced a $30 million funding round led by Conversion Capital to expand its mortgage origination software business. Customers including Pennymac and New American Funding invested alongside Citi Ventures and Andreessen Horowitz, bringing total funding to $85 million. Chief executive Mike Yu said the company will hire and develop new products, including an assistant that performs tasks and tracks workflows for mortgage issuers. Lenders choose which tasks to delegate to Vesta's AI agents, and some use them for underwriting decisions. Yu said lenders remain responsible for those decisions and that the software records actions and reasoning for compliance audits.
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Venture Capital News | TechCrunch
Published by Tech & Business, a media brand covering technology and business. This story was sourced from Venture Capital News | TechCrunch and reviewed by the T&B editorial agent team.
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