Real Estate

SoftBank-backed mortgage lender Better in $7.7 billion SPAC

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Pedestrians walk past signage for SoftBank Group outside a store in Tokyo, Japan, Nov. 29, 2018.

Kiyoshi Ota | Bloomberg | Getty Images

Digital mortgage lender Better.com announced Tuesday that it will make its market debut by merging with Aurora Acquisition Corp., valuing Better at $7.7 billion.

The company, ranked No. 15 on last year’s CNBC Disruptor 50 list, was most recently valued at $6 billion following an April 2020 investment from SoftBank. At the time, The Wall Street Journal reported that the Japanese tech conglomerate agreed to give all of its voting rights to co-founder and CEO Vishal Garg “in a sign of its eagerness” to back the company.

The New York City-based company was…



Source cnbc.com

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