According to CNBC, a New York-based startup has raised $ 500 million of investments from the Japanese SoftBank.
Investor’s interest in the company escalated in 2020 when Better.com issued loans in the amount of more than $ 25 billion. And by the end of the year, showing record revenue of $ 800 million. SoftBank has been negotiating with Better about investments since the end of 2020.
The startup managed to achieve excellent results in 2020 thanks to the increased demand for refinancing and low-interest rates.
Better is expected to go public later this year, according to Wall Street Journal sources. Better’s previous funding round was in November 2020. Then the startup was valued at $ 4 billion.
SoftBank has long been interested in projects from the proptech sector, working at the intersection of technology and real estate. Over the past few years, the corporation has invested $ 19.9 billion in 31 rounds.
Better.com is a loan and mortgage startup. Founded in the USA in 2016. Better offers mortgage loans to clients through its proprietary digital platform and partner banks such as Ally Financial.