Button Finance, Inc., a fintech mortgage lender focused on home equity, announced today that it has closed a $2 million seed raise. The capital will allow Button Finance to hire talent and to develop its proprietary technology further. Entities advised by Hildene Capital Management, LLC ("Hildene"), participated in the seed funding round. Hildene is a $13 billion structured credit focused asset manager based in Stamford, CT.
Button Finance enables homeowners to borrow against their home equity through a hassle-free online process that delivers quick decisions and funding in as little as five days. The company has built an AI-powered underwriting platform that enables it to lend to borrowers who are under-served by traditional lenders. While Button's immediate focus is on home equity loans, the company plans to expand into a broader range of loan products over the next 24 months.
"Demand was strong for the round, and we were oversubscribed and happy with our new partners," said Jason Harris, CEO of Button Finance. "This last year has been challenging for everyone; however, American homeowners now have more untapped equity than ever before, given the recent home price rally. Button Finance's products empower borrowers to access their home equity, pay down high-interest debt, and make value-enhancing renovations to their homes."
Hildene was joined by L&L Capital Partners and angel investors from the NY fintech ecosystem.
"The traditional players in the mortgage industry have been slow to adopt new technology and innovative underwriting. The Button Finance team spotted a gap in the market, and they built a robust underwriting model to address it, leading to higher risk-adjusted yields," said Dushyant Mehra, Co-CIO of Hildene Capital Management. "We are excited to be working with Button as they continue to build their unique origination platform."
Concurrent with this capital raise, Button Finance announced the hire of Josh Hager to oversee mortgage operations. Josh has over 20 years of experience in the mortgage industry, including department head roles at numerous fintech mortgage originators, including Better.com, Homeward, and Divvy Homes.
About Button Finance
Founded by an experienced team in lending and technology, Button Finance, Inc. helps borrowers extract the value from their homes through home equity loans and a bespoke, technology-driven underwriting process. Button Finance aims to help individuals and families achieve financial independence by offering more options to monetize their most significant asset, their home.
Learn more at www.buttonfinance.com.
About Hildene Capital Management
Based in Stamford, Connecticut, Hildene was founded in 2008 and focuses on distressed and event-driven opportunities within credit. Hildene manages over $13 billion for its investors.
Hildene's core competency is opportunistic investing. Hildene's senior investment team has a long and established track record of investing across credit cycles, leveraging their experience and expertise in managing complex assets. The firm seeks to generate attractive risk-adjusted returns for its institutional clientele by implementing a disciplined, systematic investment approach.
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