Vesta raises $30m Series B for AI agents in mortgage origination

Vesta raises $30m Series B for AI agents in mortgage origination

8 October 2026: Vesta, the San Francisco maker of an AI-native loan origination system, has raised a $30 million Series B led by Conversion Capital. The company says Pennymac, New American Funding, Citi Ventures, nbkc bank, First American and FirstKey Mortgage took part strategically, alongside a16z, Zigg and Navitas. Total funding is now $85 million.

Vesta says revenue has grown more than twelvefold over the past twelve months, and that both customer count and headcount are up more than 50%. It reports that lenders on or moving to its platform originate more than $100 billion in loans a year, although it puts its share of the market at under 5%.

The product is a replacement for the older systems of record most lenders still run. Vesta says it spent two years rewriting that core platform before adding agents that scrub applications, make underwriting decisions and review closing documents. In its post the company says about 40% of tasks completed on Vesta are now handled by AI agents and automated workflows. Pennymac, it says, has reported 25% back-office efficiency gains and plans to automate 80% of its production workflows by the end of 2027.

Chief executive Mike Yu told TechCrunch that many customers begin with an agent whose work a person approves, then let it handle a share of loans alone and widen that share. Lenders remain responsible for underwriting decisions, he said, and the platform records every action and the reasoning behind it so decisions can be audited. TechCrunch reports that Yu cited the cost of a US mortgage at around $11,000 per loan and about 40 days to close.

The money goes towards hiring, new product lines and a personal assistant for mortgage staff that tracks workflows, according to Yu. TechCrunch names ICE Mortgage Technology as the incumbent Vesta competes against, and Xpanse as another AI-native rival.

Company profile on TrustList: Vesta

Sources

• Vesta: Vesta raises $30 million to scale its AI agents across mortgage lending, 8 October 2026
• TechCrunch: Vesta raises $30M to bring swarms of agents to mortgage lenders, 8 October 2026