Roostify provides a configurable, modular home lending technology platform used by mortgage lenders to meet each client’s needs. Led by CEO Rajesh Bhat, the company supports more than 200 lending institutions and handles roughly $50B in loan volume monthly. Roostify raised a $32M Series C, bringing its total capital raised to $65M. The company intends to use the new funding to leverage innovative AI to simplify the entire home‑buying experience. Roostify also plans to grow its staff by 50% as part of its expansion. Roostify provides an integrated, public cloud digital lending platform that connects customers and lenders to accelerate the home‑loan experience, eliminate paper, and simplify origination workflows. The company processes nearly $20 billion in loans per month and reports its platform has reduced banks’ mortgage lending process time by an average of 20%. Roostify says lenders using the platform can realize up to 300% growth in loan applications and significant reductions in origination costs. Future plans described in the article include building out enhanced decision‑making and fulfillment capabilities, data and machine‑learning tools, and additional consumer lending products. The company is also pursuing geographic expansion into the UK and other European markets. Roostify was founded in 2012 and works with leading global banks on their digital transformation. Roostify provides an enterprise-class digital lending platform designed to speed mortgage origination and eliminate paper-bound inefficiencies. Its cloud-based, API-enabled, partner-friendly solution allows lenders to offer a seamless, branded experience from searching to closing. Since launching in 2014, Roostify has transacted over billions of dollars in mortgages and helped close hundreds of thousands of home loans nationwide. The company has expanded beyond the core application and processing workflow with integrations such as LendingTree and tools like Decision Builder to improve consumer education and lead quality. Headquartered in San Francisco, Roostify serves dozens of lenders across the United States, from enterprise banks to independent brokerages. The company plans to use new funding to accelerate delivery of its roadmap, deepen enterprise presence, and expand into new markets. Roostify provides automated mortgage-transaction technology that gives lenders, borrowers and other stakeholders a shared dashboard to increase transparency, accountability and cost savings. The platform is designed to help lenders approve and process more loans in less time and handle more loans simultaneously. Since its launch in early 2014 the company has partnered with Fannie Mae, Yodlee and others, processing thousands of mortgage applications through its platform. Roostify is led by CEO Rajesh Bhat and is hiring. The company plans to use new financing to expand its technology and add more lenders and other stakeholders to the platform. Roostify offers a web and mobile service that guides borrowers through loan application completion, qualification document submission, and tracking of the loan closing so all parties can share and track information and documents. Its secure interface is intended to reduce delays, cut unnecessary phone calls and emails, accelerate lender settlement, and give real estate agents smoother transactions and potential referrals. The product was developed by technologists working with real estate and mortgage banking experts. Roostify was founded by three technologists and is headquartered in San Francisco, California. The company says the product is already being used in the market. Roostify’s growth has been strengthened by an initial round of seed funding led by mortgage bank American Capital Corporation with participation from angel investors.

Total raised

$57M

Funding rounds

5

Latest round

Series C

Latest activity

Jan 2021