Vesta, a San Francisco, CA-based mortgage loan origination system software-as-a-service (SaaS) company, raised $30m in Series A funding.
Andreessen Horowitz led the round with participation from Zigg Capital Ventures, Conversion Capital Ventures, and Bain Capital Ventures.
The company plans to use the funds for expansion of its staffing plans and SaaS technology to provide customer environments.
Vesta was founded by Mike Yu and Devon Yang, early Blend employees, in 2020. It is a SaaS platform that connects banks, credit unions and mortgage bankers. This technology allows for customized mortgage origination. It supports approval, underwriting and closes home loans.
This platform has the following features:
- A System of Record for Loan Origination Data and Documents that is fault-tolerant, performant, fully audited and fully audited
- A customizable workflow engine that organizes the origination process for all parties: borrowers and loan officers, processors, underwriters and other settlement providers
- An Open APIs and Ecosystem that allows lenders to choose their partners, or create their own point solutions.