San Francisco-based fintech Polly has hired Parvesh Sahi, a former executive from ICE Mortgage Technology, as chief revenue officer to scale the business in a highly competitive mortgage environment.
Sahi will be involved in all aspects of the corporate strategy, business development, sales and account management, the firm said Thursday. Sahi brings to the role more than 10 years across multiple executive positions in sales, strategy, client management and business development teams at companies including ICE Mortgage Technology and Ellie Mae.
In his management roles, Sahi helped to identify and execute on multiple key acquisitions and remained committed to driving mortgage innovation, a responsibility that will continue at Polly, the firm said.
“I have no doubt that he will be instrumental in institutionalizing and scaling key areas of our business,” Adam Carmel, founder and CEO of Polly, said in a statement.
Prior to joining Polly, Sahi spent 11 years in executive roles at ICE Mortgage Technology, where he led sales, strategy, client management, and business development teams across the Ellie Mae, MERS, and Simplifile brands. Ellie Mae was acquired by Intercontinental Exchange (ICE) in September 2020.
“One of the many things that attracted me to Polly is the company’s genuine commitment to product execution and delivering on client expectations to meet the evolving needs of lenders, and the industry as a whole,” said Sahi.
Polly, a software-as-service mortgage technology firm that operates a product and pricing engine (PPE) and loan-trading exchange, initially launched in 2019. Since then, the California fintech raised about $57 million in three rounds of funding.
In January 2022, the firm raised $37 million in Series B funding, led by venture capital firm Menlo Ventures. Movement Mortgage, First American Financial and FinVC also joined existing investors 8VC, Khosla Ventures and Fifth Wall.
The SaaS firm teamed up with mortgage insurance providers, including Arch MI, Enact and National MI, to streamline the mortgage process of calculating, quoting and comparing mortgage insurance offerings.
In its latest move to drum up business for lenders, Polly and Mortgage Coach teamed up on a new application programming interface (API) last year. The new API integration feeds real-time data from Polly’s cloud-based PPE into Mortgage Coach’s total cost analysis (TCA) presentation.
This, in turn, will enable borrowers to view accurate, side-by-side home loan comparisons, Mortgage Coach and Sales Boomerang had said in November.