Real estate fintech Reali raises $250m funding
California-based Reali has closed $250 million in new financing led by Zeev Ventures, with participation from Akkadian Ventures, Signia Ventures, and others.
The firm has now raised more than $300 million in total
The company says the funding will underpin planned national expansion and product advancements to its Reali Trade-In and Reali Cash Offer services.
Reali launched in October 2016. In 2020, it claimed more than 7x year-over-year growth, 2x year-over-year customer growth, and a threefold increase in the average revenue per user (ARPU). Total funding for the firm now amounts to more than $300 million.
The company’s aim is to create a “one-stop-shop to make homeownership simple, affordable, and stress-free every step of the way”. It claims a single, integrated platform and a wide range of alternative financing solutions.
Via Reali Trade-In, customers can buy and sell in a single coordinated transaction, eliminating resale contingencies, moving twice, and paying two mortgages at once.
Reali Cash Offer allows buyers to purchase their homes with an all-cash offer backed by Reali. It claims its platform allows clients to close faster, with an average saving of $16,000.
Tyler Baldwin, CEO of Reali, says: “This fundraising reaffirms Reali’s commitment to simplifying one of life’s most complex and stressful transactions in a streamlined way.”
The funding round includes $75 million in equity, $25 million in venture debt, and $150 million in warehouse financing.
