Funding news · Oct 8, 2026
Vesta Raises $30M Series B Led by Conversion Capital for Mortgage LOS
Vesta Raises $30M Series B Led by Conversion Capital
Vesta, a San Francisco-based provider of a modern loan origination system (LOS) for mortgage lenders, has raised $30 million in Series B funding led by Conversion Capital. The round was announced on October 8, 2026.
What Vesta Does
Vesta builds a cloud-native loan origination system for mortgage lenders. The product pairs a system of record with a configurable no-code workflow engine and open APIs for ecosystem integrations.
The company targets the US mortgage origination market, positioning its platform as a replacement for LOS platforms originally built in the 1990s.
Company Background
Vesta was founded in 2020 in San Francisco by early Blend employees Mike Yu and Devon Yang. It operates as a SaaS company.
Round Details
- Round type: Series B
- Amount: $30 million
- Currency: USD
- Announced: October 8, 2026
- Lead investor: Conversion Capital
Investor Syndicate
The Series B includes participation from a broad group of investors:
- Andreessen Horowitz
- Zigg Capital
- Citi Ventures
- Navitas Capital
- Conversion Capital
- Parker89
- New American Funding
- PennyMac Financial Services
- NBKC Bank
- FirstKey Mortgage
The syndicate blends venture investors with strategic participants from the mortgage and banking sectors, including New American Funding, PennyMac Financial Services, NBKC Bank, and FirstKey Mortgage.
Why It Matters
Mortgage origination remains a market dominated by legacy systems, many of which date back to the 1990s. Vesta's approach — a cloud-native system of record combined with a no-code workflow engine and open APIs — targets lenders seeking to modernize origination infrastructure and integrate with a broader ecosystem of tools.
The presence of mortgage lenders and financial institutions among the round's investors suggests strategic alignment with the customer base Vesta serves.
Acquisition Angle
For acquirers focused on mortgage technology and core lending infrastructure, Vesta offers a modern LOS positioned against entrenched legacy platforms. Its founding team's background at Blend provides domain context in digital mortgage origination, and the Series B syndicate combines venture capital with strategic backing from institutions active in mortgage lending and banking.
The $30 million Series B, led by Conversion Capital, gives the company capital to continue building out its platform for the US mortgage origination market.
Summary
Vesta has raised $30 million in Series B funding led by Conversion Capital, announced October 8, 2026. The San Francisco-based company, founded in 2020 by early Blend employees Mike Yu and Devon Yang, provides a cloud-native loan origination system for mortgage lenders.