CMFG Ventures leads investment in MortgageHippo
Digital lending platform delivers ‘Swift’ technology for a better consumer experience
MADISON, WI (April 18, 2017) — CMFG Ventures, LLC, the venture capital entity of CUNA Mutual Group, announced its latest investment in Chicago-based, MortgageHippo, Inc., a financial technology startup that provides a digital mortgage platform to guide consumers through every step of the mortgage origination process. CMFG Ventures led the extension for the company’s seed round of approximately $2.25 million.
“Mortgage lending is the cornerstone of credit unions’ relationships with their members, so it is critically important that their mortgage experience is simple, convenient, and seamless,” said Brian Kaas, president and managing director, CMFG Ventures. “A superior digital mortgage experience is essential in today’s marketplace. MortgageHippo will bring a new level of service for the member while creating efficiency and cost savings for the credit union.”
MortgageHippo delivers a customizable and consumer-friendly digital mortgage platform that helps lenders immediately bridge the technology gap and deliver a better experience to borrowers. The company’s digital lending platform, known as SwiftDLP™, delivers the flexibility to acquire and service borrowers through multiple channels and touch points while maintaining a single customer view. The platform also educates borrowers about the mortgage process and provides tools and information they need to make important mortgage decisions.
“The mortgage process can be cumbersome, and lenders are experiencing pressure to provide intuitive technology solutions to create a better customer experience for home-buyers. However, not all financial institutions are properly equipped to deliver a modern borrowing process.” said Valentin Saportas, co-founder and CEO, MortgageHippo. “With SwiftDLP™, any mortgage lender can offer step-by-step online servicing for the mortgage origination process – all while maintaining their brand in front of their customers through our white-label offering.”
MortgageHippo’s customers include several top national and regional lenders in the U.S and the platform has been integrated with leading technology providers to the mortgage industry. Early results show an improved consumer experience that leads to greater conversions for lenders, especially through origination channels where borrowers are looking to go further into the mortgage process at their own pace.
CMFG Ventures actively engages and evaluates startup investments that best support credit unions in serving their members with new and innovative technology products and services. CMFG Ventures’ investment strategy targets startups focusing on data and analytics, consumer lending and asset protection technology, and advanced mobile channels. CMFG Ventures has invested in a number of startup companies, including ForeverCar,SpringboardAuto.com, Align Income Share Funding, CUneXus, SmartAsset, and Rippleshot.
For more information, visit the CMFG Ventures or MortgageHippo websites.
About TruStage
TruStage is a financially strong insurance, investment and technology provider, built on the philosophy of people helping people. We believe a brighter financial future should be accessible to everyone, and our products and solutions help people confidently make financial decisions that work for them at every stage of life. With a culture rooted and focused on creating a more equitable society and financial system, we are deeply committed to giving back to our communities to improve the lives of those we serve. For more information, visit www.trustage.com.
About MortgageHippo
MortgageHippo helps lenders devise and implement their digital mortgage strategies using its borrower-centric digital lending platform: SwiftDLP™. SwiftDLP™ allows lenders to deliver a modern borrowing experience, improve borrower conversions, significantly reduce origination costs and integrate with other innovative technologies. SwiftDLP™ is fully customizable to lender preferences and configurable to lenders’ workflows and processes. Additional information on the company can be found at www.mortgagehippo.com/swift.
About CMFG Ventures
CMFG Ventures, LLC is the venture capital entity within CUNA Mutual Group that focuses on strategic, early-stage investments in the credit union, financial services, and insurance industries. Additional information about the company can be found at www.cmfgventures.com.
