Ralo raises $2.9 million

Ralo, an “AI-native mortgage brokerage,” has launched publicly after raising $2.9 million in seed funding from Y Combinator, Manresa Ventures and Pack Ventures, along with angel investors including filmmaker Charles Ferguson and Arrived co-founder and CEO Ryan Frazier.

The New York-based company says it can offer mortgage rates more than half a percentage point below the national average while closing loans “substantially faster” than traditional lenders. Ralo uses AI-driven workflows to compare offers from multiple lenders, guide borrowers through the application process and coordinate documentation and approvals.

Ralo closed its first loans in March 2026 and said revenue has been doubling month over month since launch. The company is currently licensed to operate in California, Colorado and Texas, with plans to expand into additional states later this year.

“The U.S. residential mortgage market is a multi-trillion-dollar opportunity that will almost certainly be transformed by AI. What impresses me most about Helly and Arjun is that they have the design instincts and technical ability to rethink the entire consumer experience and mortgage origination process from the ground up.” – Jackson Gates, managing partner at Manresa Ventures.