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Beeline Completes Series A Funding to Revolutionize Mortgages Through Automation
[December 09, 2021]

Beeline Completes Series A Funding to Revolutionize Mortgages Through Automation

PROVIDENCE, R.I., Dec. 9, 2021 /PRNewswire/ -- Beeline, a digital start-up mortgage lender that provides the shortest path to homeownership, has completed a Series A round of financing for an undisclosed amount. The capital will be invested in automation and artificial intelligence (AI) to provide a totally unprecedented user experience (UX) for borrowers.

The round of financing was led by the Cavalry Fund and included participation from strategic co-investors Atalaya Capital Management, Ellington Financial Inc., and Australia-based Pipeline Capital. The latest transaction brings the total capital raised by Beeline to $22 million.

"We're thrilled to welcome our new equity partners, who are aligned with our vision of using automation to disrupt the housing industry and revolutionize how people get mortgages," said Beeline President and Co-Founder Peter Gonzalez. "This transaction positions Beeline to provide consumers with a home financing experience that surpasses all other currently available options."

The new funding will accelerate development of Beeline's groundbreaking mortgage automation platform, which identifies, processes, and resolves underwriting conditions in real-time so borrowers can instantly know if they are pre-approved for a loan.

Beeline launched in June 2020 and has already closed nearly $500 million in mortgages. The company is currently licensed in 26 states and plans to add more.  

In just 15 minutes, Beeline gives borrowers "Purchase-Ready Approvals," day or night, by using a borrower's exact financial information and predictive analytics rather than relying solely on information that borrowers declare, as traditional pre-approvals do. With the borrower's consent, Beeline securely accesses their bank, income, and tax information online, verifies the numbers instantly, and provides a reliable, accurate approval upfront, so borrowers are far less likely to encounter roadblocks or be disappointed later.

Beeline borrowers can then choose a customizable loan option and lock their mortgage rate all in one session, from the comfort of their sofa, without having to talk to their Beeline Loan Guide, who is always on-hand if needed. 

Currently, over 95% of Beeline's customers who receive automated mortgage decisions are ultimately approved during the underwriting process. This high level of automation and accuracy reduces Beeline's origination costs, which enables the company to offer more attractive pricing compared to other lenders.

"This is the classic example of David up against the Goliaths of the mortgage industry," sid Greg Ellis, chief brand officer and co-founder of Beeline. "Our unique, mobile-first platform combines automation, AI, and a simple UX in new ways to free people from the usual back-and-forth loan process B.S., so they can celebrate the thrill of buying a home or the benefits of a refinance as quickly as possible."

"Beeline's tech platform delights customers by streamlining the process to arrive quickly at their end goal, whether it's buying their dream home, doing a refinance, or buying an investment property," said Gonzalez. "It is also built to lower the cost of creating a mortgage, so we need fewer employees per loan than traditional lenders — and our borrowers benefit from that in lower rates and costs."

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About Beeline
Beeline is a U.S. home lender that gives consumers the shortest path to realize their dreams of a new home or refinancing. A radical new way to apply without the hassle of filling out long, tedious documents gives Beeline customers more certainty with a Beeline Ready-Approval than from a typical pre-approval with much less effort, by letting consumers link directly to their exact financial info in seconds. This gives Beeline accurate information and users the lowest rates. Best of all, applying takes only 15 minutes from the sofa on a mobile device day or night. Speeding up approvals also means Beeline can give low rates to its customers. Based in Providence, R.I., Beeline is licensed in 26 states, including the District of Columbia. Find out more at

About Cavalry Fund
Cavalry Fund I LP is a privately held investment firm with a flexible and creative approach to investing in emerging growth companies. Cavalry Fund identifies and creates investment opportunities with asymmetric risk/reward profiles by focusing on the underserved small-cap market. By providing capital solutions to companies seeking non-traditional funding sources, Cavalry is able to generate superior risk-adjusted returns without being subject to the typical day-to-day market volatility.

About Atalaya Capital Management
Atalaya Capital Management is a privately held, SEC-registered, alternative investment advisory firm. Atalaya primarily focuses on making private credit and special opportunities investments in three principal asset classes – financial assets, real estate, and corporate. Founded in 2006, Atalaya is headquartered in New York City and has approximately $6 billion in assets under management. For more information, please visit

About Ellington Financial Inc
Ellington Financial Inc invests in a diverse array of financial assets, including residential and commercial mortgage loans, residential and commercial mortgage-backed securities, consumer loans and asset-backed securities backed by consumer loans, collateralized loan obligations, non-mortgage and mortgage-related derivatives, equity investments in loan origination companies, and other strategic investments.

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