Silicon Valley Bank (SVB), a division of First Citizens Bank, and lending partner Setpoint announced on Wednesday that they’re providing a $200 million warehouse facility to Austin-based mortgage tech firm UpEquity.

The funding is expected to support $1 billion in originations over the next two years, helping homebuyers purchase new homes before selling their current ones, and to support the growth of UpEquity.

“We are thrilled to work with Silicon Valley Bank and expand our relationship with Setpoint,” Timothy Herman, CEO of UpEquity, said in a statement. “The strong demand for our product reflects how well it meets details ⇒

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