Haven, a New York-based homeownership platform that unlocks value for mortgage servicers and sub-servicers, announced today that it raised $8 million in Series A funding. To date, Haven has raised a total of $13.5 million.
The round was led by Fifth Wall, with participation from Fidelity National Financial, RWT Horizons, and 1Sharpe Ventures. Existing investors Conversion Capital, BoxGroup, AME Cloud Ventures, and Operator Partners also participated in the round.
The capital will be used for hiring and to accelerate product development.
At Haven, we believe that an educated homeowner is a confident and valuable one. However, while lenders, servicers, realtors, and home services vendors all interact with homeowners today, none have built a great relationship or added tangible, accessible value,” said Haven CEO Jonathan Chao. “Education is critical to building personal credit, surfacing what options are available, and understanding how to best take advantage of them. We’re aiming to take a similar approach at Haven by helping servicer partners understand what to include in their portfolio of services, how those services benefit homeowners, and how to best reach those homeowners with the services they actually need at costs that save them real money.”
Haven’s technology, which can be white-labeled, is integrated with leading sub-servicers. With the platform, holders of mortgage servicing rights become advisors through a new marketing channel with real engagement.
Haven elevates mortgage servicers from back-office payment processors by enabling them to deliver ongoing value to homeowners. Haven also gives homeowners a single destination for their needs to save money, better understand equity, and make strides toward realizing long-term financial goals.
With this funding round, Sarah Liu, Partner at Fifth Wall, joins Haven’s Board of Directors.
Company: Haven Servicing, Inc.
Raised: $8.0M
Round: Series A
Funding Month: November 2022
Lead Investors: Fifth Wall
Additional Investors: Fidelity National Financial, RWT Horizons, 1Sharpe Ventures, Conversion Capital, BoxGroup, AME Cloud Ventures, and Operator Partners
Company Website: https://www.havenservicing.com/
Software Category: Homeownership Platform
About the Company: Haven is founded in 2020 by Nipun Kant, Jonathan Chao, and Aditya Acharya, who followed careers scaling personal finance and cloud computing technologies at Credit Karma, Plaid, and Cloudera. Haven is a technology platform that unlocks value for the mortgage industry by engaging homeowners throughout the lifecycle of homeownership. Integrated with leading sub-servicers, Haven provides a customizable platform for servicers to engage, educate, and enroll borrowers in new products and services. Haven has experienced rapid adoption of its platform with: 800,000+ homeowners live, cross-sell partners across four verticals, including home insurance, auto insurance, life insurance, and home equity lending, and integrations with 6 of the top 50 servicers in the U.S.
Source: https://www.businesswire.com/news/home/20221101005219/en/Haven-Raises-8-Million-Series-A-to-Scale-Tech-Enabled-Mortgage-Servicing-Infrastructure