Valon raises $150 million

Mortgage servicer Valon Technologies has raised $150 million in Series D funding at a $2.3 billion valuation, doubling its last valuation. New investor Ribbit Capital joined the round, alongside continued participation from existing investors including Andreessen Horowitz.

Founded in 2019, the startup claims that one in six outstanding U.S. mortgages is under contract to run on its platform.

Last year, Valon announced an insurance partnership with VIU by HUB.

“Andrew, Linda, Brian, and the Valon team are taking on a part of financial services that is badly in need of better technology. A mortgage is the biggest bill most families will ever have, yet the companies that service those loans still rely on complex, hard-to-navigate legacy software. From the beginning, they’ve understood that improving the status quo takes more than better software: you have to service the loans yourself and prove the system holds up at real scale.” – Micky Malka, founder of Ribbit Capital.