EXCLUSIVE — If there’s any question that digital mortgage firms are gaining attention from larger fintech players and investors, then look no further than venture capital firm Santander InnoVentures‘ investment in Roostify, a startup that digitalizes the mortgage application process.

Madrid, Spain-based Santander InnoVentures, the fintech VC arm of major Spanish bank Santander Group, announced that it led a $24 million Series B round for the fintech, which closed yesterday. Other investors include Cota Capital and Point72 Ventures as well as existing investors JPMorgan Chase, Colchis Capital, and a subsidiary of USAA.

“The Santander InnoVentures model has excelled at taking great technologies and expand them across the Santander footprint,” Manuel Silva, head of investments at Santander InnoVentures told Bank Innovation. “Additionally, Roostify is engaged in an ambitious product development plan that will greatly enhance its current offering. Being an investor allows us to be closer to the product road map and be an early adopter of new products.”

Based in San Francisco, Roostify was established in 2014. The company aims to eliminate paper-based application processes for mortgages by enabling users to complete the process on their smart phones instead.

The funds from this latest round will be used by Roostify to expand internationally beyond the U.S. market. No specifics on this expansion play were provided. But one thing is clear, banks seem to be taking an interest in Roostify, as is evident in the numerous bank investors in this latest funding round.

Last year around the same time, JPMorgan Chase (the second-largest originator of U.S. mortgages) announced a partnership with Roostify for its own digital, self-serve mortgage platform.

Mortgage-focused fintechs are garnering interest from banks and larger fintech players with digital mortgage lenders like Better Mortgage showing impressive growth (more on this here). Even Goldman Sach’s consumer lending platform Marcus seems to be heading towards mortgage territory. With its recent launch of home-improvement loans, isn’t mortgage just a few steps away?

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