Tomo Mortgage raised $20M in a Series B financing round led by Progressive Insurance to enhance its AI-driven digital mortgage platform.

Mar 11, 2025•9 months ago

Amount Raised

$20 Million

Round Type

series b

StamfordFintechFinancial Services

Investors

Dst Global PartnersNfxRibbit CapitalProgressive Insurance

Description

Tomo Mortgage announced the closure of its $20 million Series B financing round, expanding its total investment to $130 million. The round saw participation from new investor Progressive Insurance along with existing investors Ribbit Capital, NFX, and DST Global Partners.

Company Information

Company

Tomo

Location

Stamford, Connecticut, United States

About

Tomo is a digital mortgage company on a mission to get rid of the greed and complexity in lending, saving homebuyers thousands of dollars. Its continuous automation platform makes the lending process much faster, less frustrating, and far less expensive. By passing that savings on to the homebuyers, it's able to eliminate the excessive fees and over-inflated rates that cost U.S. homebuyers billions of dollars each year.

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