Better Appoints Orange Capital Founder Daniel Lewis to Board

Daniel Lewis, founder and managing partner of the hedge fund Orange Capital, was appointed to the board of directors for Better Home & Finance Holding Co. this week, with the changes taking effect on July 27. Lewis replaces outgoing director David Barse. His appointment brings over 30 years of experience in investment and operations, including prior roles at Citigroup before establishing New York-based Orange Capital in 2005. Lewis continues to serve as CEO of Orange Capital and is identified as a significant shareholder in Better. Vishal Garg, founder and CEO of Better, stated that Lewis's career has been dedicated to assisting companies in refining their strategies, optimizing capital allocation, and enhancing long-term shareholder value. Garg further noted that Lewis's expertise in capital markets and regulated sectors will be instrumental as Better advances its transformation into an AI-powered mortgage platform. Lewis himself commented that Better is leveraging AI and automation to fundamentally reshape the mortgage process, aiming to make homeownership more efficient, transparent, and affordable. He highlighted the company's "disciplined" transformation, which involves simultaneous technology development and operational adjustments focused on achieving profitable growth. Board Chair Harit Talwar emphasized that Lewis's background in governance, capital allocation, and operational execution will provide crucial support as Better pursues its strategic objectives for 2026. David Barse resigned from the board on July 27 to explore new professional avenues, and Better clarified that his departure was not prompted by any disagreements regarding the company's operations, policies, or practices. This board restructuring occurs as Better seeks to re-establish itself as an AI-native mortgage and home equity platform following a period of significant volatility. This period included rapid expansion during the pandemic, subsequent layoffs, and a challenging Special Purpose Acquisition Company (SPAC) listing. Since its inception, Better has facilitated over $110 billion in loan volume and is now emphasizing its proprietary Tinman AI platform. The company's strategic pivot towards AI and automation is intended to streamline the home financing process, making it more accessible and user-friendly for consumers. Lewis's appointment signifies a strategic move to bolster the company's leadership with seasoned financial and operational expertise, particularly as it navigates the complexities of the mortgage industry and its ongoing technological evolution. The company's focus on profitable growth and operational efficiency is a key element of its turnaround strategy, aiming to restore investor confidence and secure its market position.