• General
  • November 12, 2020
  • 3 minutes read

Better.com Eyes 2021 IPO

  Better.com, an online mortgage company that just scored $200 million in Series D funding, is eyeing to file for public…

 

Better.com, an online mortgage company that just scored $200 million in Series D funding, is eyeing to file for public listing as soon as in January next year and has tapped investment banks Bank of America and Morgan Stanley to arrange a possible public listing, according to a report [paywalled] by Bloomberg. Better.com has seen exceptional growth this year and is on track to make net revenues of over $800 million, reports Bloomberg.

A 2021 IPO for Better.com will make for a remarkable one, given the company was founded just in 2016. Better.com is an online mortgage lender that says its funded loan volume has soared over 4x over the past year as the US mortgage market hit a record high this year, buoyed by record-low rates. The company just this Wednesday scored $200 million in funding that placed its valuation at $4 billion, a rarity for a four-year-old company.

Better.com is backed by a group of investors that include well-known names like Kleiner Perkins, Goldman Sachs, Citi, L Catterton, and American Express Ventures. The company has raised $410 million in total outside funding.

In the case of an IPO, Better.com’s shareholders are likely on track to generate significant profit from their earlier bets on the company.



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