Elio Mortgage launches with $5.1M to build AI-powered brokerage

Elio Mortgage has emerged from stealth mode following a $5.1 million pre-seed funding round led by Motive Partners and Social Leverage. Rather than selling software to existing lenders, the startup is operating as an AI-powered mortgage brokerage.

To establish its foundation, Elio acquired Florida-based Hightide Mortgage. This acquisition provided an existing operational structure, which has since expanded from eight loan officers to approximately 40, covering 22 states and reaching roughly $200 million in trailing 12-month origination volume. The company’s strategy involves integrating engineers directly with loan officers to create a feedback loop for developing AI agents that handle administrative tasks, allowing staff to focus on sales.

The company was founded by CEO Oren Michaely, a former Microsoft engineer, and COO Arad Lev Ari. Elio intends to pursue two primary growth paths: providing AI tools to existing loan officers to increase their capacity, and offering an embedded product called ‘Elio Embedded’ for wealth advisors, brokers, and builders to provide mortgages without managing a full lending operation.