We are proud to announce Vontive to the public. A Techcrunch article about the launch of Vontive is available here.
Four years ago, we started building technology for a quietly large, shockingly underserved part of the U.S. housing market–investment real estate. After operating in stealth for so many years, during which time we built an end-to-end mortgage technology for business-purpose, investment-property mortgages, we are now taking our solution to brands that real estate investors trust and enabling these businesses to launch their own mortgage company in weeks.
Along with the announcement, we are excited to share our Series B financing round led by Zigg Capital. Zigg joins other investors in Vontive including Founders Fund, Goldcrest, XYZ Venture Capital, 8VC, Nine Four Ventures, Village Global, Godfrey Capital, and the LeFrak organization.
The idea that became Vontive was conceived a decade ago when Freddie Mac and Palantir worked together on initiatives to reduce Freddie Mac’s credit losses during the U.S. housing crisis. Palantir established a data integration foundation to develop strategies, test hypotheses, and automate decision making at scale. One of those strategies supported pricing ~400,000 residential properties sold to real-estate investors.
We foresaw applying this data-integration, data-science-focused approach to modernizing a fragmented, offline industry could transform financing of hundreds of billions of dollars of real estate. Real estate investors buy and own ~15% of 1-4 unit residential properties in the U.S.
We call what we are building an embedded mortgage platform for investment real estate. As we ramp up publishing blog posts, we will expand on that concept. If your business works with real estate investors and would like to bolt on a mortgage company, or you are interested in joining our journey, we look forward to connecting with you.