Home lending platform Roostify raises $32 million

Roostify closed a $32 million Series C funding round led by Ten Coves Capital, bringing its total funding to date to $65 million. 

Founded in 2012, the San Francisco-based team of ~91 offers a home lending platform. It intends to use the funding to leverage “innovative AI” to simplify the entire home buying experience and grow its staff by 50%. Today, the company supports more than 200 lending institutions and handles roughly $50 billion in loan volume monthly.

“The opportunity to re-design the future of home lending through technology cannot be overstated, as the mortgage lending industry has been relatively slow to embrace digital technologies. Roostify is well-positioned to accelerate the digitization of home lending infrastructure, and we are excited to partner with the Roostify team to help them power this market transformation.” – Dan Kittredge, Managing Partner at Ten Coves Capital.

“Having easy access to meaningful digital tools is key to helping lenders thrive in a digital-first world. That’s why we are hyper-focused on perfecting and digitalizing the entire home buying journey from beginning to close. We design meaningful, end-to-end solutions that solve the complex challenges leading home lending institutions face on a daily basis. With this capital infusion, we will accelerate our vision of simplifying home lending without compromising on quality and time-to-market.” – Roostify CEO Rajesh Bhat.