Significant Partnerships Announced
Better announced three new partnerships, expected to expand market reach and drive profitability. They are projected to contribute to a monthly loan volume of $1 billion within six months.
Increased Loan Volume and Revenue
Year-over-year funded loan volume grew by 17% to $1.2 billion, and revenue increased by 51% to approximately $44 million.
AI-Powered Growth
Betsy's AI platform increased lead-to-lock conversion rate by approximately 84%, significantly improving unit economics and reducing costs.
Improved Unit Economics
Revenue per fund increased to $8,300, with costs decreasing, resulting in a 64% increase in net contribution margin quarter-on-quarter.
Expansion in Home Equity Business
Home equity volume increased by 52% year-on-year, achieving a quarterly run rate of over $1 billion.