Vesta raises $30M for AI agents that work on mortgage decisions
Vesta has raised a $30M Series B to expand AI agents that handle mortgage origination work, including underwriting decisions, with three customer lenders among the investors. The same software sold in Europe would be high-risk under the AI Act, and GDPR already limits automated decisions of this kind.
Vesta has raised a $30M Series B to put AI agents inside mortgage lenders. Conversion Capital led the round, and three lenders already using the software invested alongside Citi Ventures and Andreessen Horowitz.
Chief executive Mike Yu said demand had “exploded in the last year” and revenue is up twelvefold, he told TechCrunch. Vesta has raised $85M in total and puts its market share below 5%.
Lenders on its platform originate more than $100B of mortgages a year, HousingWire reported. About 40% of tasks running through Vesta are now handled by agents and automated workflows.
Those tasks reach further...
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