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Enter tomo mortgage (tomo), a company that utilizes proprietary technology and gen ai to not only improve the borrower experience, but also to reduce the cost of mortgage fulfillment. The $640 million valuation reflects a doubling of the company’s value since its 2021 seed round, which at the time was one of the largest ever in the united states. Tomo is a digital mortgage company on a mission to get rid of the greed and complexity in lending, saving homebuyers thousands of dollars
Its continuous automation platform makes the lending. Pillsbury has advised leading digital mortgage company tomo on a $40 million series a fundraising Founded in october 2020 by greg schwartz and carey armstrong, tomo aims to be a “paypal for the mortgage industry.” the company has automated the mortgage lending process, which it claims makes.
Tomo will use the latest funding to support growth across its team and product offerings
The company is rapidly hiring loan officers and other mortgage professionals for its detroit, seattle and. Tomo, which was founded in 2020 by former zillow executives greg schwartz and carey armstrong, has received a total of $130 million in funding to date Tomo touts its use of artificial. The latest investment was led by progressive insurance, with additional participation from existing investors ribbit capital, nfx, and dst global partners.
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