Pylon Raises $3.3M Seed Round to Accelerate Embedded Mortgage Platform
Pylon, an embedded mortgage infrastructure platform, announced on Tuesday that it had raised $3.3 million in seed funding. The round was led by General Catalyst and Y Combinator, with participation from other investors including BoxGroup, Uncorrelated Ventures, and angel investors from Ramp, Blend, Zillow, SoFi, and Figure.
The funding will be used to accelerate Pylon’s product development and recruitment efforts. The company plans to use the funds to build out its mortgage origination platform, as well as to expand its team of engineers, product managers, and sales professionals.
Pylon’s platform allows businesses to embed mortgage lending into their products in weeks instead of the years it would take to build a digital lender from the ground up. The platform provides businesses with access to a wide range of mortgage products, including conventional, FHA, VA, and jumbo loans. Pylon also handles all of the backend processing, including underwriting, closing, and funding.
“We believe that embedded mortgage lending is the future of the mortgage industry,” said Pylon CEO and Co-Founder, Ankur Jain. “With this funding, we are excited to accelerate our mission of making it easy for businesses of all sizes to offer mortgage lending to their customers.”
The embedded mortgage lending market is growing rapidly. According to a recent report by MEF Mortgage, the market is expected to reach $1 trillion in annual originations by 2025. Pylon is well-positioned to capitalize on this growth, as it is the only platform that provides businesses with a comprehensive solution for embedded mortgage lending.
With this funding, Pylon is well-funded to execute on its growth plans and become the leading platform for embedded mortgage lending. The company is poised to disrupt the mortgage industry and make it easier for businesses to offer mortgage lending to their customers.
Additional Details
- Pylon was founded in 2021 by Ankur Jain and Nikhil Sachdev.
- The company is headquartered in New York City.
- Pylon’s platform is currently used by a number of businesses, including Ramp, Blend, and Zillow.
- The company plans to use the funds to expand its product offerings, hire new employees, and grow its customer base.
About Pylon
Pylon is the embedded mortgage infrastructure platform. It enables enterprises including FinTechs, PropTechs, banks, and retail brands to build mortgage lending into products in weeks instead of the years it would take to build a digital lender from the ground up.
The platform provides a comprehensive solution for embedded mortgage lending, including:
- A wide range of mortgage products
- A user-friendly interface
- A robust backend processing system
- A team of experienced mortgage professionals
Pylon is passionate about making it easy for businesses to offer mortgage lending to their customers. With Pylon, businesses can quickly and easily embed mortgage lending into their products, without having to build their own mortgage lending platform from the ground up.