Exploring recent trends in digital originations for mortgage lenders, highlighting the role of fintech and AI in reshaping the lending process.
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Tomo, a fintech startup that plans to be a “PayPal for the mortgage industry” has announced $40 million in Series A funding. So reports GeekWire.
The funding round values Tomo at $640 million, twice what it was worth upon its $70 million seed round in 2021.
Launched in October 2020 by former Zillow executives Greg Schwartz and Carey Armstrong, Tomo aims to make buying new homes faster thanks to software.
