Digital Mortgage Company Tomo Raises $40M In Seed Round – NMP Skip to main content

Digital Mortgage Company Tomo Raises $40M In Seed Round

Oct 28, 2020
Tomo logo
Director of Events

Tomo Networks, a fintech startup looking to join the growing number of digital mortgage solutions raised $40 million in seed round funding, led by Ribbit Capital, NFX and Zigg Capital.

Tomo is looking to create a fully digital mortgage platform in hopes to streamline homebuying for both the consumer and their real estate agent, according to a press release. The company is looking to approach its platform by having it be human-driven but technology-enabled.

The company was founded by former Zillow executives Greg Schwartz and Carey Armstrong.

"Buying a home is a lousy experience. Despite years of tech companies focusing on real estate, the overall process has not changed enough," said CEO and co-founder Greg Schwartz. "We dream about the life we will build in our new home, yet dread the process of getting there. Tomo will give us what we want and deserve: the efficiency of a tech-enabled real estate transaction and the intimacy of having a team of elite professionals on our side."

"Our mission is to invest in the leading teams and companies who are transforming the financial services industry. This area is ripe for change and this team has the revolutionary energy, industry know-how and experience to get it done," said Nick Huber, partner at Ribbit Capital.

Additionally, Tomo will be hiring across the country with concentrated teams in Austin, Texas; Seattle, Washington and Stamford, Connecticut.

About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Oct 28, 2020
More from
Tech
Ardley Launches Self-Service Platform For Mortgage Portfolio Growth

New platform lets lenders and servicers adjust pricing, borrower journeys and outreach campaigns directly

Jun 15, 2026
Lorien AI Integrates With MeridianLink Mortgage

Integration brings conversational AI, document analysis, and underwriting guidance directly into the loan origination workflow

Jun 15, 2026
More Than Half Of Buyers Say They'd Purchase A Home Without Human Help

Veterans United survey highlights growing consumer trust in AI-powered mortgage guidance, lender shopping, and document management

Jun 12, 2026
Friday Harbor Integrates AI Pre-Underwriting Platform With MeridianLink Mortgage

Integration brings AI-powered pre-underwriting platform into MeridianLink's loan origination system

Jun 09, 2026
Morningstar Adds AI Access To CMBS And CRE Analytics Platform

New capability lets users query commercial real estate and securitized credit data using natural-language prompts

Jun 05, 2026
ICE Joins Anthropic Cybersecurity Initiative

The parent company of Encompass, MERS, and Simplifile is deploying Anthropic's Claude Mythos AI model to identify software vulnerabilities across its technology platforms

Jun 04, 2026