Austin-based mortgage tech platform UpEquity raised $50 million in a Series B funding round led by the venture capital firm S3 Ventures. The funding will support the company’s growth as UpEquity forecasts more than $1 billion in originations over the next 12 months.

The funding consists of $20 million in equity and $30 million in debt, UpEquity said in a statement. Other investors included Next Coast Ventures, BP Capital Management, Alumni Ventures, Gaingels, Launchpad Capital, and Early Light Ventures.

Co-founded by Tim Herman and Louis Wilson, the “power buyer” startup enables homebuyers to make all-cash offers to compete details ⇒

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