UpEquity, the tech-enabled mortgage company creating a better way to buy a home, today announced the closing of $50 million in Series B funding led by S3 Ventures, with $20 million in equity and $30 million in debt allocated. Next Coast Ventures also participated in the round, along with BP Capital Management, Alumni Ventures, Gaingels, Launchpad Capital and Early Light Ventures.

Co-founded by Tim Herman and Louis Wilson, UpEquity is on a mission to transform the homebuying experience by giving every homebuyer the opportunity to make a competitive, winning offer on their dream home. Its Buy with Cash program helps homebuyers make an all-cash offer that's four times more likely to be accepted than traditional mortgages. UpEquity's differentiated mortgage technology works at superhuman speed to provide a painless, fast mortgage experience for its customers. The company has experienced 500% year-over-year growth in revenue and carries a Net Promoter Score five times higher than the industry average. This further highlights the company's truly unique approach in an otherwise saturated market. UpEquity is headquartered in Austin and has locations around the country. Visit their website at upequity.com.