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Valon secures $150 million in Series D funding at $2.3 billion valuation
The round doubles Valon’s prior valuation and brings the startup’s total funding to $197.1 million, according to the company profile.
Insurance news site Coverager reports that mortgage servicer Valon Technologies raised $150 million in Series D funding at a $2.3 billion valuation, doubling its last valuation.
Ribbit Capital led the round, with new investor Ribbit Capital joining alongside continued participation from existing investor Andreessen Horowitz, Coverager said.
Founded in 2019 and based in New York, Valon says one in six outstanding U.S. mortgages is under contract to run on its platform, according to Coverager.
In remarks attributed to Ribbit Capital founder Micky Malka, the outlet said Valon is targeting legacy technology used by mortgage servicers, and that the approach involves servicing the loans itself to prove the system can operate at scale.