Millennial home buying platform Lower lands $100m Series A led by Accel
US fintech Lower has raised $100 million in its Series A funding round, led by venture capital firm Accel.
The Ohio-based firm is one of the largest bootstrapped fintech companies to raise a Series A
Lower is a home finance platform targeted at Millennial and Gen-Z customers to help them get a foot on the housing ladder.
The company plans to use the funds to expand its product line and accelerate its growth.
“My co-founders and I started this company because we saw a need in this industry to make the process easier for consumers,” says Lower co-founder and CEO Dan Snyder.
“More investment means faster growth and more impact. Homeownership is the greatest wealth creator for Americans and Accel’s history of supporting bootstrap companies and their investment means we can help more people achieve it faster.”
As part of the investment, Accel partner John Locke will also join Lower’s board of directors.
Locke adds: “Dan and the Lower team have quietly created one of the most interesting fintech companies in the US. Lower has a unique opportunity to break down barriers to home ownership. We are excited to partner with them as they continue this journey.”
The Ohio-based firm is one of the largest bootstrapped fintech companies to raise a Series A, having already crossed “over $300 million” in revenue prior to the investment.
The company also recently signed a partnership with MLS franchise the Columbus Crew to name their new stadium Lower.com Field.
