Tomo Mortgage raised $20M in a Series B financing round led by Progressive Insurance to enhance its AI-driven digital mortgage platform.
Tomo Mortgage raised $20M in a Series B financing round led by Progressive Insurance to enhance its AI-driven digital mortgage platform.
03/11/25, 12:10 PM
Location
stamfordMoney raised
$20 million
Industry
fintech
financial services
Round Type
series b
Investors
Dst Global Partners, Nfx, Ribbit Capital, Progressive Insurance
Tomo Mortgage announced the closure of its $20 million Series B financing round, expanding its total investment to $130 million. The round saw participation from new investor Progressive Insurance along with existing investors Ribbit Capital, NFX, and DST Global Partners.
Company Info
Location
stamford, connecticut, united states
Additional Info
Tomo is a digital mortgage company on a mission to get rid of the greed and complexity in lending, saving homebuyers thousands of dollars. Its continuous automation platform makes the lending process much faster, less frustrating, and far less expensive. By passing that savings on to the homebuyers, it's able to eliminate the excessive fees and over-inflated rates that cost U.S. homebuyers billions of dollars each year.