Vishal Garg, founder of Better Home & Finance Holding Company, has released a 90-day plan targeting $2 billion in quarterly funded-loan volume, monthly revenue growth of $7 million, and a reduction in monthly cash burn from approximately $4 million to $0, alongside a $30 million share repurchase program. The plan combines growth initiatives driven by Better's Tinman technology platform with AI-enabled expense reductions, a proposed board refresh, and a search for a permanent chief executive officer. Garg aims to close five major partners, increase loan-officer talk time from 2.1 hours to 4 hours per day, and improve the DTC lock-to-fund rate from approximately 45% toward the industry average of 60%. Cost-saving measures include aligning commissions on AI-assisted conversions, implementing instant counteroffers, and moving legal work to AI-powered teams, targeting monthly savings of $500,000, $1 million, and $500,000 respectively. The plan also calls for replacing five directors, engaging Daversa Partners for a CEO search, completing the sale of Better's UK bank within 30 days, and initiating an immediate share repurchase authorization of up to $10 million.
Better Home & Finance Holding CompanyPlan includes $30M buyback, cost cuts, and growth targets, boosting investor confidence.
Yulon Finance Corp