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Vesta raises $30M Series B for AI-native loan origination platform
HousingWire says Vesta reports lenders on its platform originate more than $100 billion annually and automate tens of thousands of daily tasks with embedded AI agents.
Vesta, an AI-native loan origination system, raised $30 million in a Series B funding round led by Conversion Capital, bringing its total funding to $85 million, HousingWire reports. The company said its lender investors include New American Funding, Pennymac Financial Services and NBKC Bank, with other participation from Citi Ventures, FirstKey Mortgage and Navitas Capital.
Vesta said it has embedded AI agents that run tens of thousands of daily tasks for lenders, including underwriting, condition clearing and closing reviews. HousingWire reports that lenders currently on the platform, or migrating to it, originate more than $100 billion annually.
The article also notes lender outcomes after moving to Vesta, including a 25% drop in origination costs at Pennymac and 50% loan origination efficiency gains. Existing investors Andreessen Horowitz, Zigg Capital and Parker89, as well as First American Financial’s venture capital arm, were among those participating in the round.