Vontive, the embeddable mortgage platform that provides loans to real estate investors, has landed $25 million in venture capital and $110 million in debt in a Series B funding round led by Zigg Capital to expand its mortgage product offerings and provide a debt marketplace for financial institutions to provide funding.
Vontive's embeddable mortgage platform enables any financial institution including banks, credit unions, and proptech startups to offer mortgages, renovation loans, and construction loans to single-family rental and small commercial real estate investors.
Founded in 2017 as Certain Lending Inc., Vontive raised $8 million back in 2019 and currently operates in 5 states including Arizona, California, Minnesota, Oregon and Washington.
Vontive's platform can be embedded into any existing app or website without any coding required. The company hopes its platform will be used across the web on sites catered to real estate investors.
Using a 'TurboTax-like workflow', Vontive's platform walks real estate investors through the step-by-step application process, automatically verifying, pre-populating, and eventually storing bank and credit data to be used in future applications.
After grading applications using its proprietary underwriting algorithm, Vontive's streamlined approach matches investors to capital market partners—allowing investors to deploy more capital faster without sacrificing compliance.
Last year, Vontive achieved profitability for the first time—generating 900% annualized growth in gross merchandise value and revenue.
CEO Take: Much like other mortgage technology and real estate investing platforms we've featured on Funding Fridays in the past including Lendai, Roofstock, Tomo, and Home365, Vontive is helping to digitize the archaic process of providing loans to real estate investors.
Using a combination of effortless technology implementation and a proprietary underwriting algorithm that uses data to verify information, Vontive provides its single-family rental and small commercial real estate investors with a seamless, intuitive, easy-to-use platform that has resulted in countless repeat purchases and impressive growth over the past year.
Congratulations to the entire team over at Vontive on your latest funding round and future growth plans. If you are ever in the market for a property data provider to assist with information verification to power your underwriting algorithm and applications process, please connect with us, we'd love to partner with you!
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