Tomo Mortgage LLC

Based in the US, Tomo Mortgage LLC operates as a straightforward mortgage provider, simplifying the home-buying process through competitive rates and transparent lending practices for consumers. Tomo Mortgage LLC specializes in mortgage solutions aimed at easing the home-buying experience. Founded in 2020, the company is headquartered in Stamford, CT, and has engaged in four deals, with its most recent funding round occurring on March 11, 2025. The company successfully raised USD 20 mn in Series B funding, co-led by Ribbit Capital, NFX, and DST Global, alongside new investor Progressive.

The firm is led by CEO Greg Schwartz, with founders Carey Armstrong and Courtenay Escoffery. The total amount raised by the company stands at USD 20 mn, reflecting its current valuation of USD 120. 48 mn. Tomo Mortgage specializes in providing straightforward mortgage solutions aimed at simplifying the home-buying process for consumers.

Their core offerings include competitive mortgage rates that are typically around 0. 5% lower than the industry average, with significant savings compared to larger financial institutions. The company emphasizes transparency by eliminating hidden fees, which are common in traditional lending practices, thereby ensuring clients understand the full cost of their mortgage upfront. The primary customer base consists of first-time homebuyers who benefit from Tomo Mortgage's responsive service and user-friendly digital platform.

The firm operates in various geographical markets across the United States, including major cities such as Seattle, Houston, and New York, ensuring a wide reach for its products and services. Tomo Mortgage generates revenue through its mortgage lending activities, where customers apply for home loans directly via its online platform. The structure of transactions typically involves direct consumer engagement, with clients submitting applications for mortgage financing. Once a mortgage is approved, customers can expect a straightforward fee structure, without the burden of excessive costs or hidden charges, which enhances customer satisfaction and loyalty.

Tomo Mortgage positions itself as a cost-effective alternative to traditional lenders by providing competitive rates and a seamless application experience. Their flagship offerings are designed to facilitate ease of access to mortgage financing, ultimately contributing to the firm's revenue through the volume of loans processed and closed. In March 2025, Tomo Mortgage LLC raised USD 20 mn in Series B funding with plans to utilize the capital to expand its workforce by hiring loan officers and mortgage professionals in Detroit, Seattle, and New York. Additionally, the company aims to relocate its headquarters from Stamford, CT, to New York City, facilitating better access to key markets.

These strategic moves are designed to enhance operational efficiency and support future growth.