FinTech news in Better.com category

Even former Amazon employees with vested equity can use the service, according to Better.com, and there are many, following Amazon companywide layoffs.

At one point, John began having more visibility into the company’s records and found there were inconsistencies in how Better was managing loan documents, post-closings and HR documents. To get a better understanding of what’s happening on a human level, we talked to several former employees of the embattled startup who have been laid off in recent months, as well as current ones impacted by the new leave policy. In the meantime, workers who stayed at the company despite all the goings-on of the past year — only to be laid off with far less in severance pay than those who were laid off before them — feel betrayed.

Digital mortgage lender Better.com has conducted its fourth round of layoffs since December 1, 2021.

So if you include that company’s layoffs — which amounted to some 3,000 in the first quarter of 2022 — the fintech numbers inch up even higher and fintech becomes the category that saw the most layoffs by percentage — 15.4% — in the first half of 2022.

Those three executives are: Jillian White, general manager of Better’s affiliate businesses known as Better+, which consists of its title/settlement, insurance and home inspection departments; Megan Bellingham, who was senior vice president of sales and operations and John Moffatt, who served as vice president of sales.

The round brings the company’s valuation to $842 million, nearly doubling the $447 million it was valued at after its Series C. Egyptian fintech Paymob, which enables merchants to accept digital payments online and in-store, raised $50 million in Series B funding. The rise of digital payments has changed the nature of how people do business with each other; and open banking — a movement in banking where incumbents are finally adopting newer technology such as APIs to open their systems to modern integrations — is leading to a wave of new payment methods, all of which are hoping to become as standard as cash or paying with cards. Last week, a company called Paddle, which has built a large business out of providing the billing backend for those SaaS products, announced a large funding round of $200 million as it gears up for its own next stage of growth.

Specifically, an S-4 filing by Aurora states: The Better Founder and CEO, in his personal capacity, has agreed to enter into a side letter with SoftBank, pursuant to which he may be liable for realized losses or receive payments in certain circumstances from SoftBank in connection with the Post-Closing Convertible Notes, which could divert the resources and attention of the Better Founder and CEO from our business and have a negative impact on his personal financial situation.

Digital mortgage company Better.com is gearing up for another round of layoffs, multiple sources with knowledge of internal happenings at the company have told journalist.

Diane Yu, CTO of Better.com, is transitioning from her position as chief technology officer to an advisory role a day after the digital mortgage lender announced a voluntary separation program to certain employees, according to an internal memo obtained by journalist.

The mass layoffs at digital mortgage lender Better.com have reportedly started, according to employees and other sources at the company, and affected workers are finding out by seeing a severance check in their Workday account — the company payroll app.

Online mortgage lender Better.com is poised to lay off roughly 50% of its staff of about 8,000 this week, sources familiar with internal happenings at the company told journalist on Monday.

The latest events at the company involve the resignations of four more top executives, including Clayton Carol, the company VP of finance; Christian Wallace, head of real estate; Paul Tyger, general manager of purchase; and Stephen Rosen, head of sales.

journalist has learned that Sarah Pierce, who served as executive vice president of customer experience, sales and operations, and Emanuel Santa-Donato, who was senior vice president of capital markets and growth, are no longer with the digital mortgage company.