Last year, we covered the launch of Home-Account, a mortgage search and counseling service. Though launched in the implosion of the housing market, the site raised funding from an impressive group of investors, including Charles River Ventures, Marc Benioff, Ron Conway, Mark Pincus, and Jeff Clavier. One of the seed investors in the round was personal finance site Bills.com, which put close to a million dollars in Home-Account. Today, Home-Account is announcing that it has been acquired by Bills.com. Terms of the deal were not disclosed.
A Kayak.com for mortgages, Home-Account offers a free and paid service for those who are looking for mortgage or to re-finance. Home-Account helps consumers find the right mortgage for their needs and credit histories from its partner lenders. Home-Account doesn’t make commissions from the buyers or the lenders, like some online mortgage services like LendingTree.com and LowerMyBills.com. It makes money solely from the consumer subscriptions. Home-Account’s founder Mark Goldstein says that since the company’s launch last year, the startup helped close “hundreds of mortgages.”
Since Bills.com was an investor, the company worked closely with Home-Account and found that it would fit well with Bills.com’s mission to be a resource to help people make better financial decisions. Ethan Ewing, President of Bills.com says that the company plans to take the Home-Account platform, and scale to other financial decisions, such as paying off credit card debt.
This post has been written by Leena Rao on Jul 28, 2010 couresy of techcrunch.com.