New York funding news: Financial services top recent local investments

New York-based finance company Better Mortgage has secured $75 million in Series C funding, according to company database Crunchbase, topping the city's recent funding headlines. The cash infusion was announced January 31 and led by American Express Ventures.

According to its Crunchbase profile, "Launched in 2016, Better is a full-stack mortgage lender digitizing every step of the financing process. Backed by Kleiner Perkins and Goldman Sachs, Better was created by a group of engineers from Google and Spotify committed to putting consumers back in control of the most important financial decision of their lives. An intuitive online platform guides customers through finding their price range, getting certainty about loan terms, and ultimately funding, while keeping real estate agents up-to-date on progress."

The five-year-old company has raised three previous funding rounds, including a $15 million Series B round in 2017.

The round brings total funding raised by New York companies in financial services over the past month to $1 billion. The local financial services industry has produced 270 funding rounds over the past year, securing a total of $9.5 billion in venture funding.

In other local funding news, credit company Climb Credit announced a $50 million debt financing funding round on January 30, financed by Goldman Sachs Urban Investment Group.

According to Crunchbase, "Climb Credit finances education that works. They identify schools that consistently improve their graduates' earning potential and justify the cost of their tuition. They then provide simple, fast, and affordable loans to their students to help them meet their career and financial goals."

Founded in 2014, the company has raised two previous rounds, including a $6 million Series A round in 2017.

Meanwhile, credit card company Petal raised $30 million in Series B funding, announced on January 29. The round's investors were led by Valar Ventures.

From the company's Crunchbase profile, "Petal is a new kind of credit card company on a mission to make credit honest, simple, and accessible. The company uses machine learning to analyze customer's full digital financial record--not just their credit score."

Petal last raised $34 million in debt financing in 2018.

Also of note, property insurance company Jetty raised $25 million in Series B funding, announced on February 6 and led by Khosla Ventures.

From Crunchbase, "Jetty is transforming insurance. In an industry that's historically been riddled with jargon, high costs, and outdated technology, we believe that everyone deserves better, more affordable coverage that protects the things they love. Jetty Renters Insurance, our core offering for consumers, can be customized for all kinds of scenarios--from nightmares like fire and theft to shattered phones, broken laptops, and even bedbugs."

The company previously raised $11 million in Series A funding in 2017.

Rounding out the city's recent top local funding events, consumer goods company Billie raised $25 million in a Series A round, announced on January 29 and led by Goldman Sachs Private Capital Investing.

From Crunchbase, "Billie is a wellness company that offers high-quality shaving supplies and body products at a fair price, without the pink tax. Billie is committed to designing products that are uniquely built to provide women everyday TLC from top to toe. Shaving companies have always been created for men which may explain why people are still overpaying for women's razors and referred to as a goddess for shaving."

The company previously raised $10 million in seed funding in 2018.
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This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.