Tuesday, July 23, 2019

Homeward Gets $25M For Real Estate Startup

Austin-based Homeward, which operates a service which allows homeowners to provide all-cash offers on their home purchases, has raised $25M in funding, the company said on Monday. The funding included $4M in an equity funding, and $21M in debt funding. The equity funding portion came from LiveOak Venture partners, and the debt portion came from Genesis Capital and Keystone Bank, with additional capital from angels linked to Opcity, ApartmentList, and others. Homeward was founded and is led by CEO Tim Heyl. Homeward's service lets homeowners submit information about their home, calculating their home equity and offering up the ability for those homeowners to provide an all-cash offer on their next home--which is usually an advantage in purchasing a home, especially in hot markets. The company says it then allows users to list their homes for sale, and will provide a pre-agreed, fair market price if that home does not sell. Homeward said the new funding round will go towards its support teams and acquisition initiatives. More information »