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Better Home & Finance Holding Files for IPO, Offering Up to $1.3 Billion
ByAinvest
Monday, Sep 29, 2025 6:22 am ET1min read
Better Home & Finance Holding Company, a homeownership firm, filed for an offering of up to $100mln. The company offers residential mortgage, insurance, and real estate services in the US and UK. Its technology platform, Tinman, allows customers to see rate options, get pre-approved, and close loans. The company offers various mortgage loan products, including GSE-conforming, FHA, and VA loans, and a "One-Day Mortgage" program.
Better Home & Finance Holding Company (BETR), a New York-based homeownership firm, has announced an offering of up to $100 million. The company, which provides residential mortgage, insurance, and real estate services in the US and UK, is seeking to expand its operations and enhance its technology platform, Tinman. This platform allows customers to see rate options, get pre-approved, and close loans in a streamlined manner.Better offers various mortgage loan products, including GSE-conforming, FHA, and VA loans, as well as a "One-Day Mortgage" program that allows eligible customers to go from click to Commitment Letter within 24 hours. The company's technology-driven approach has been recognized with numerous accolades, including being named Best Online Mortgage Lender by Forbes and Best Mortgage Lender for Affordability by WSJ in 2023.
The company's first quarter 2025 results [1] highlighted its robust growth despite challenging macroeconomic conditions. The Q1 funded loan volume increased by 31% year-over-year to $868 million, driven by efficiencies in its Tinman AI platform. The company expects the second quarter funded loan volume to increase compared to Q1, and anticipates 2025 funded loan volume to grow over 2024, driven by initiatives such as NEO Powered by Better and the onboarding of its first bank partner to power their entire mortgage platform.
Better has also expanded its AI loan assistant, Betsy™, into processing and underwriting workflows, aiming to enhance customer experience and improve loan-team efficiency. The company remains focused on managing towards profitability in the midterm, balancing growth expenses with corporate cost reductions.
The offering will provide Better with additional capital to further invest in technology, diversify its distribution channels, and optimize marketing strategies. The company continues to leverage its AI Mortgage platform, Tinman™, to fund more than $100 billion in mortgage volume, serving customers in all 50 US states and the United Kingdom.
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