The Denver-based fintech Multiply Mortgage announced it has raised a $23.5 million Series A funding round led by Kleiner Perkins.
According to the company A*, Box Group, Mischief, and Workshop also participated in the funding round, bringing the company’s total funding to $27 million.
Founded in 2022, Multiply Mortgage is focused on making home loans accessible through employer benefits. The company said it provides mortgage interest rate discounts of up to 0.75% with an average annual savings of $5,100, along with guidance from expert advisors and employee education sessions that cover the home purchase and financing process – services that are provided at no cost for administrative overhead for an employer.
Multiple Mortgage’s services are available in 45 states and the District of Columbia.
“Homeownership has become increasingly out of reach for many Americans, and we don’t expect interest rates to fall to the levels we saw in 2020 ever again,” said Michael White, CEO and co-founder. “Our mission is to help employees – whether frontline workers or corporate staff – access lower mortgage rates and expert guidance, at zero cost to their employer.”
