Vesta raises $30M to bring swarms of agents to mortgage lenders

Mortgage software startup Vesta announced on Thursday that it raised a $30 million funding round led by Conversion Capital. The company helps lenders automate mortgage origination using autonomous software agents. According to co-founder and CEO Mike Yu, revenue has grown twelvefold over the past year. The platform helps lenders originate more than $100 billion in loans annually.

Despite this growth, Vesta holds under five percent market share. The new capital will fund staff expansion and new product lines, including a personal assistant for mortgage issuers. Closing a U.S. mortgage currently takes about 40 days and costs roughly $11,000 per loan, largely due to human labor. Vesta allows customers to deploy software agents to handle routine tasks, track workflows, and occasionally make underwriting decisions.

Lenders remain legally responsible for those decisions, and the system logs all actions and reasoning for audits and compliance. Yu noted that the technology relies on improvements in underlying models, specifically highlighting Claude Sonnet 4.5 for its ability to follow instructions over extended time horizons. Vesta competes with legacy systems like ICE Mortgage Technology and rivals like Xpanse.

Yu stated that the company's priority is winning over the rest of the mortgage industry.