Vesta, an AI-native software startup focused on mortgage origination, has secured $30 million in a funding round led by Conversion Capital. Existing investors Andreessen Horowitz and Citi Ventures participated, alongside customers including Pennymac and New American Funding. To date, the company has raised a total of $85 million.
Founded in 2020 by Mike Yu and Devon Yang, Vesta provides AI agents that automate loan origination tasks. According to the CEO, the company has seen a 12x year-over-year revenue increase and has facilitated over $100 billion in annual loan originations. Despite this growth, the startup currently holds less than 5% of the market share.
The platform aims to reduce the average 40-day mortgage closing timeline and the associated $11,000 cost per loan. By deploying swarms of AI agents, lenders can automate workflows, with some firms already utilizing the technology for underwriting decisions. All agent actions are logged to ensure compliance and auditability.
The company plans to use the new capital to expand its team and develop additional product lines, such as a personal assistant for mortgage issuers. Vesta utilizes advanced AI models, specifically citing Claude Sonnet 4.5 for its ability to follow complex, long-term instructions, which the founders state was a key technical breakthrough.
