Multiply Mortgage Announces $23.5M Series A Funding to Introduce Lower-Rate Mortgages as a New Category of Employee Benefits
Summary
First-of-its-kind fintech offers employees up to 0.75% interest rate discounts and concierge-level support from mortgage expertsDENVER, March 19, 2025--(BUSINESS WIRE)--Multiply Mortgage, the financial technology company making homeownership more accessible through employer benefits, today announced it has raised a $23.5 million Series A funding round, led by Kleiner Perkins. "Homeownership has become increasingly out of reach for many Americans, and we dont expect interest rates to fall to the levels we saw in 2020 ever again," said Michael White, CEO and co-founder, Multiply. "Our mission is to help employees whether frontline workers or corporate staff access lower mortgage rates and expert guidance, at zero cost to their employer. Multiplys high-value, zero-cost solution enhances financial wellness, strengthens retention, and attracts talent all without burdening employers. Its financial wellness offering provides mortgage interest rate discounts of up to 0.75% with an average annual savings of $5,100, unlimited guidance with expert advisors, and employee education sessions that cover the home purchase and financing process, all with zero cost or administrative overhead for the employer.With employer healthcare costs expected to rise by 9% in 2025, many HR leaders and benefits managers are less likely to offer ancillary benefits to employees due to limited budgets.