Vesta, an AI-native software startup for mortgage origination, raised $30 million in a round led by Conversion Capital, with participation from Citi Ventures, Andreessen Horowitz, and existing customers Pennymac and New American Funding. CEO Mike Yu highlighted a 12× year‑over‑year revenue surge and noted the market opportunity remains under 5% share. The funding will fuel expansion of AI‑driven agent swarms that automate loan processing, aiming to cut the typical 40‑day, $11,000‑per‑loan timeline.
Vesta’s agents handle tasks from loan review to underwriting, with full audit trails for compliance. Yu cited the breakthrough of Claude Sonnet 4.5 as key to achieving the needed instruction adherence. The startup now competes with legacy systems like ICE Mortgage Technology and AI‑first rivals such as Xpanse, positioning itself to capture a larger share of the mortgage industry.
Source: TechCrunch Venture · Summarized by HeadlinesBriefing