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BFD Expert Voices - Private Credit

BFD Expert Voices

Sela, which builds voice agents to automate mortgage sales calls, raised $21 million in seed and Series A funding, CEO Nate Becker tells Axios Pro exclusively.

Why it matters: Mortgage lenders depend on fast, consistent follow-up to convert leads.

Follow the money: Emergence Capital led Sela's $6 million seed round at the end of 2024, and Costanoa led its $15 million Series A.

Emergence also participated in the Series A.

How it works: Sela receives leads from a mortgage lender's CRM, and Sela's AI voice agent calls the prospective borrowers, answers questions and collects information.

The agent can pull credit and gather the information needed for a mortgage application before handing the borrower to a loan officer, Becker says.

Each lender's legal and compliance teams set limits on what the agent can do, including whether it may recommend one loan product over another.

By the numbers: Sela says it handles more than 600,000 calls per day and supports more than $50 million in mortgage originations daily.

It works with six of the ten largest independent mortgage banks and reached a revenue run rate of more than $14 million as of August, Becker says.

Between the lines: Becker says Sela's advantage comes from mortgage-specific sales behavior learned through hundreds of tests across tens of millions of conversations, rather than the underlying voice model.

"Anyone with an ElevenLabs demo account can build a voice AI bot," Becker says.

In an A/B test of more than 10,000 borrowers, Sela says leads handled by its agent had a 9% higher lead-to-lock rate and yielded more than 40% higher lender profit than those handled by the lender's existing process.

Yes, but: Identifying a borrower's tone and responding appropriately is still "an active research project," Becker says.

Exclusive: Sela raises $21M for mortgage voice agents

Voice agents call prospective borrowers and collect info.

Illustration of a house-shaped word balloon with a question mark in it.

Sela, which builds voice agents to automate mortgage sales calls, raised $21 million in seed and Series A funding, CEO Nate Becker tells Axios Pro exclusively.Why it matters: Mortgage lenders depend on fast, consistent follow-up to convert leads.

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Exclusive: Sela raises $21M for mortgage voice agents

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