Founded in 2014 by Vishal Garg, Better markets itself as a quicker alternative to conventional mortgage lenders. : Better Mortgage, an online lending startup, has closed a Series D round that values the company at roughly $4 billion, according to a source familiar with the matter. The $200 million round was led by L Catterton—a private equity firm based in Greenwich, Connecticut—according to Bloomberg, which first reported the news. Ally Financial ALLY , American Express Ventures, Activant Capital, 9Yards Capital and Ping An also participated, the report said.