Ally Financial Inc., a leading financial services provider in the U.S., recently made a significant investment in online mortgage company Better.com transacted. The successful funding round was led by Ally Financial CEO Jeffrey J. Brown, led and has raised a total of $160 million. This is a major success for Ally Financial and marks an important step in the company’s expansion and diversification efforts.
Better.com, founded in 2016, has quickly attracted the attention of many investors and is considered a "disruptor" in the mortgage industry. The company has developed an innovative approach to simplifying the mortgage process by eliminating traditional steps such as handwriting, stamps and paper and creating a completely digital experience. These efficiencies will have Better.com helped them grow quickly and establish themselves in the marketplace.
Ally Financial’s investment in Better.demonstrates the company’s confidence in the future of the mortgage industry and in the ability of Better com.com, to positively change the industry. This strategic investment also represents an opportunity for Ally Financial to enter new, emerging markets and expand the company’s customer base. With this success, Ally Financial is expanding its presence in the digital mortgage space, and the company is expected to introduce more innovative technologies, processes and tools to meet the needs of customers in the future.
What is Better.com?
Better.com is a fast-growing digital mortgage origination company. It was founded in 2016 and is headquartered in New York City. The company uses a platform that allows customers to apply for and receive a mortgage in just minutes. No longer do you have to print out documents or go to the bank in person, everything can be done online.