Key facts
- Vesta raised $30 million in Series B funding, bringing its total capital raised to $85 million.
- Conversion Capital led the Series B round.
- Existing customers PennyMac, New American Funding, and NBKC Bank invested in the round.
- Vesta's platform helps lenders originate over $100 billion in mortgages annually.
- AI agents handle approximately 40% of tasks on Vesta's platform.
Vesta, an AI-native software startup focused on mortgage lending, announced on Thursday it has raised $30 million in Series B funding, led by Conversion Capital. This brings the company's total funding to $85 million. Existing customers PennyMac, New American Funding, and NBKC Bank, along with Citi Ventures and Andreessen Horowitz, also invested in the round.
Vesta utilizes AI agents to automate various stages of the loan origination process, aiming to reduce the time and cost associated with processing mortgages. The company's platform helps lenders originate over $100 billion in mortgages annually. Vesta CEO Mike Yu stated that demand for their product has surged in the past year, with revenue increasing 12x year-over-year.
The company plans to use the new capital to expand its product lines, including a personal assistant for mortgage issuers, and to increase its market share. Vesta's approach allows lenders to deploy AI agents for tasks such as document review and workflow tracking, with the option for human oversight or full autonomy in decision-making. The company highlighted advancements in AI models like Claude Sonnet 4.5 as crucial for developing these agents.
Yu noted that Vesta's AI-native architecture provides an advantage over legacy mortgage systems that are difficult to integrate with AI agents. The company's priority is to capture a larger share of the mortgage industry market.