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Mortgage as an employee benefit? Kleiner Perkins leads $23.5M Series A for Multiply Mortgage
After hitting record lows at the start of the pandemic, mortgage rates began to climb in 2022 and haven’t come down significantly since. With
But interestingly, the founders, Michael White and Gautam Gupta — alums of Square, Opendoor, DoorDash, and Uber — observed that most of the employees were using their liquidity offerings for home purchases and related expenses. So in July 2024, the startup altered course to offer a mortgage benefit program that helps employees of its partner companies, which include the likes of Anduril and Ramp, navigate a home purchase. “On the technology side, we’re building the workflow automations and AI-driven tools to take a lot of the back office human labor and make the people involved significantly more efficient,” he explained.
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