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 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.