Sora Finance, a San Francisco, CA-based fintech startup providing credit management and liability optimization as a service to financial advisors, planners, and employers, raised $3.9 million in funding.
The investment was from prominent venture investors, including Peterson Ventures, New Era Capital Partners, Launchpad Capital, Fairbridge Park, Tubbs Ventures, Creative Capital, and Endurance Companies. Strategic angels include the CEOs of Esusu, Cadre, Propel, and Bloomtech
Sora seamlessly onboards clients' existing liabilities and executes advanced credit optimization strategies across all loans to maximize clients’ net worth. By partnering with wholesale and retail lenders, Sora guarantees advisors’ clients the lowest cost of debt.
"Liability management is critical for advisors, but it's also time-consuming and complex," says Siddhartha Oza, Co-Founder and Co-CEO of Sora Finance. "Sora is the best and really the only option for advisors looking to provide their clients with a comprehensive credit management solution. We're able to deliver significant value to both financial advisors and their clients given our innovative technology and partnerships with leading lenders." Sora's credit management services unlock an optimization opportunity for more than 73% of clients while also helping clients secure the lowest rates and best client experience on new loans.
For new home loans, Sora recently launched a “buy now, refi later for free” offer to support individuals looking to secure the lowest cost of debt now and in the future.
Sora guarantees great rates on a new mortgage and will automatically refinance the loan with no fee for the next five years, making homeownership more accessible in spite of current interest rates.
"We're proud to help folks on our platform save money and build wealth through smarter credit management. Simply put, most Americans don’t optimize their debt and pay too much," says Rohit G. Agarwal, Co-Founder, and Co-CEO of Sora Finance. "Our latest offering for new home buyers is just the beginning of our commitment to making financial wellness and really the American dream of home ownership more widely accessible."
Company: SoraFinance, Inc.
Funding Month: March 2023
Lead Investors: Peterson Ventures, New Era Capital Partners, Launchpad Capital, Fairbridge Park, Tubbs Ventures, Creative Capital, and Endurance Companies
Company Website: https://www.sorafinance.com/
Software Category: Credit Management and Liability Optimization
About the Company: Sora Finance is a fintech company that provides an automated finance tool that aims to give everyone the lowest possible cost of debt (home, auto, student). The company's finances tool assists consumers to minimize their debt plans and upgrade from their existing home, auto, and student loans at an affordable cost, enabling individuals to streamline the process of financing. The company works with financial advisors and employers to provide the best available products and services in lending, banking, and financial planning. Sora onboards clients’ existing liabilities and executes advanced credit optimization strategies across all loans to maximize clients’ net worth. By partnering with wholesale and retail lenders, Sora guarantees advisors’ clients the lowest cost of debt. The company currently has over 125 advisory firms and $275 million in liabilities under management already on board.