Celligence has secured a $100 million investment from Mortgage Treasury to scale AngelAi, its AI platform designed to automate complex financial decision-making and transactions, including the entire mortgage process.
AngelAi allows consumers and enterprise lenders to execute transactions through a conversational interface rather than simply using AI to answer questions. For mortgages, the platform can guide users through application, validation, processing, underwriting and servicing.
The platform was developed by Celligence using more than four decades of expertise from Sun West Mortgage Company and has grown to more than 400,000 users and 200,000 transactions.
Celligence also said AngelAi’s intellectual property portfolio has been independently valued at $119 billion.
At the core of AngelAi is Celligence’s Transactional Language Model, or TLM, which is designed to translate conversations into financial transactions. Celligence said the technology enables AngelAi to provide financial decisioning backed by a warranty.
The company intends to use the new capital to broaden AngelAi’s financial products, expand its deep-learning architecture and increase adoption of the platform.
One major priority is expanding access to homeownership by allowing consumers to obtain mortgage services through conversational messaging.
AngelAi also plans to accelerate customer growth with a long-term target of reaching 100 million active users.
Additional funding will go toward predictive analytics, financial product development and AI infrastructure capable of supporting regulatory requirements in international markets.
Celligence is also planning a geographic expansion across North and South America, the Middle East and Asia-Pacific, where it sees demand for streamlined real estate finance technology.
The investment comes as financial institutions increasingly deploy AI to reduce the time and expense associated with complex transactions.
AngelAi is designed to automate those workflows while maintaining the accuracy, compliance requirements and individualized decision-making required in financial services. Celligence believes lowering processing and underwriting costs can help broaden consumer access to financial products, particularly mortgages.
Celligence ultimately plans to move AngelAi beyond mortgage workflows and create a single AI-powered platform through which consumers can access and execute a broader range of financial services.
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“Our vision is to change how people interact with financial institutions through intelligent and empathetic AI,” said Pavan Agarwal, founder and CEO of Celligence and AngelAi and CEO of Sun West Mortgage Company. “This investment will amplify cross selling and network effects to make AngelAi the dominant consumer finance and mortgage app. With the shared vision of Mortgage Treasury, we are positioned to widen product capabilities, enhance our deep-learning architecture, and simplify the financial experience for millions of people.”
Pavan Agarwal, Founder and CEO of Celligence and AngelAi and CEO of Sun West Mortgage Company
“In a dynamic financial landscape, efficiency, accuracy, and trust are paramount,” shared John D. Waiheʻe III, the former governor of Hawaii and Chief Executive Officer of Mortgage Treasury. “AngelAi delivers on all three fronts by removing traditional obstacles in loan originations and secondary market transactions. We believe that AngelAi is shaping the future of financial services, and we are proud to stand behind their visionary team.”
John D. Waiheʻe III, Chief Executive Officer of Mortgage Treasury
“Our study into the current state of lending concluded that the only way to source pristine credit assets for our investors is that those assets are manufactured by AngelAi’s Transactional Language Model, where there is no possibility of contaminating the asset quality with human bias and errors,” added Mr. Tomoyuki Nakano, Board Member of Mortgage Treasury. “AngelAi has raised the expectations of AI from theoretical capability to completing multi-step, multi-discipline processes that are traditionally completed by large teams of humans. We anticipate tremendous cross-border opportunities.”
Tomoyuki Nakano, Board Member of Mortgage Treasury
