Vesta, a San Francisco mortgage tech company that builds an AI-native loan origination system (LOS), has raised a $30 million Series B led by existing backer Conversion Capital, bringing total funding to $85 million. Participants include Citi Ventures, Andreessen Horowitz, Zigg, Navitas, First American, FirstKey Mortgage, and lender customers Pennymac, New American Funding, and nbkc bank. Vesta says AI agents now handle about 40% of platform tasks, including application review, underwriting decisions, and closing document verification, that revenue has grown twelve-fold year over year, and that Pennymac cut its origination costs by 25% after switching. The main objective is to scale AI implementation across lenders, bringing proptech-adjacent automation to a historically manual mortgage process, and fund continued hiring. Key players include Vesta co-founder and CEO Mike Yu and CTO Devon Yang, both formerly of Blend, and lead investor Conversion Capital.

Vesta Lands $30M Series B