Key facts
- Daniel Lewis, founder of Orange Capital, has joined the board of Better Home & Finance.
- Lewis replaces David Barse, who stepped down July 27.
- Lewis brings over 30 years of investment and operating experience.
- Better is undergoing a transformation into an AI-native mortgage and home equity platform.
- The company aims for profitable growth amidst high interest rates and thin margins.
Better Home & Finance Holding Co. has appointed Daniel Lewis, founder and managing partner of hedge fund Orange Capital, to its board of directors, effective July 27. Lewis replaces David Barse, who departed to pursue other opportunities. Lewis, a significant shareholder in Better, brings over three decades of investment and operating experience, including early roles at Citigroup before launching Orange Capital in 2005.
Vishal Garg, founder and CEO of Better, stated that Lewis's expertise in capital markets and regulated industries will be valuable as the company continues its transformation into an AI-powered mortgage platform. Lewis himself highlighted Better's use of AI and automation to enhance the homeownership experience and noted the company's disciplined approach to profitable growth.
Board Chair Harit Talwar indicated that Lewis's background in governance, capital allocation, and operational execution will support Better's strategic objectives. The board changes occur as Better repositions itself following a period of rapid growth, layoffs, and a challenging SPAC listing, emphasizing its Tinman AI platform and Betsy AI loan agent.
This board refresh signals Better's focus on capital allocation, cost structure, and governance, crucial elements for mortgage originators facing high interest rates, thin margins, and increased regulatory scrutiny. The move underscores the trend of digital lenders combining technological innovation with financial oversight to achieve sustainable profitability.