New York-based fintech Tidalwave has raised $22 million in a Series A funding round led by Permanent Capital. The investment follows a $2 million seed round in 2023 and will be used to expand operations across the US mortgage lending market.
Founded by former FreeWheel executives Diane Yu, Jack Deng, and Cheng Li, Tidalwave operates a mortgage POS+ system that uses agentic AI to automate mortgage processes for lenders, including NEXA Lending, First Colony Mortgage, and Mortgage Solutions.
The platform automates income and asset verification, document processing, and underwriting decisions via direct integrations with Fannie Mae, Freddie Mac, Plaid, Argyle, and Truv, while also handling credit checks, fraud detection, and compliance monitoring throughout the loan lifecycle.
Tidalwave has now raised $24 million in total funding, with the Series A featuring a follow-on investment from Engineering Capital, alongside new participation from US home construction company D R Horton, which has now also become an enterprise customer of Tidalwave.
In a blog post announcing the raise, Yu, who serves as the company’s CEO, says the new funding will be used to power over 200,000 loans annually. “This funding accelerates our ability to ship AI agents faster,” she says, highlighting plans to expand the team, as well as develop further integrations and platform capabilities.
Source: https://www.fintechfutures.com/
