MortgageHippo, Inc.

MortgageHippo, Inc. provides a digital mortgage origination platform that enhances the mortgage application process for lenders and consumers, delivering a streamlined and user-friendly experience. MortgageHippo, Inc. is a company that focuses on simplifying the mortgage process through technology.

Founded in 2013, the firm is headquartered in Chicago, US. The company was co-founded by Michael Salichs and Valentin Saportas, who has prior experience in the tech industry. The firm has completed 4 deals, with its latest funding round, a Seed round, occurring on April 18, 2017, where it raised USD 1. 5 mn led by CMFG Ventures, bringing the total amount raised to USD 1.

5 mn. Revvin, formerly known as MortgageHippo, offers a comprehensive platform designed to streamline the mortgage process for both lenders and consumers. The company's core product is a digital mortgage origination system that enhances the customer experience by providing an intuitive interface for borrowers to apply for loans. This platform facilitates various stages of the mortgage process, including application submission, document verification, and loan processing.

Revvin’s primary client base consists of mortgage lenders, banks, and credit unions, which utilize the platform to improve efficiency and reduce the time required to close loans. The end users are primarily homebuyers and homeowners seeking refinancing options. The company's services are marketed primarily in the United States, targeting both urban and suburban markets where demand for streamlined mortgage solutions is high. Revvin generates revenue primarily through partnerships with financial institutions that utilize its digital mortgage origination platform.

These partnerships typically involve subscription-based pricing, where lenders pay a recurring fee to access the platform's features and functionalities. In a typical transaction, a mortgage lender would pay for access to the system to facilitate the processing of mortgage applications from consumers. Additionally, Revvin may offer tiered pricing plans that correspond to the level of service requested, including basic access to essential features and premium options that provide advanced analytics and customization capabilities. The platform serves a range of lenders, contributing to a diversified revenue stream as different institutions leverage Revvin's technology to enhance their mortgage services.

Following the Seed funding round on April 18, 2017, in which MortgageHippo, Inc. raised USD 1. 5 mn led by CMFG Ventures, the company intends to expand its product offerings and improve its platform. Future plans include launching new features aimed at enhancing user experience and increasing operational efficiency by the end of 2023.

MortgageHippo is also targeting expansion into new geographic markets, specifically in the southeastern regions of the United States, to capture a larger customer base and respond to increasing demand for digital mortgage solutions.