US real estate platform Prevu buys mortgage tech from shuttered Reali
Digital homebuying platform Prevu has completed the acquisition of mortgage technology assets from recently closed fintech Reali for an undisclosed sum.
Reali closed down in September this year citing “challenging” real estate and financial market conditions.
According to the terms of the transaction, all the technology and intellectual property rights of Reali’s mortgage business, Reali Loans, have been transferred to Prevu as of 14 October.
With the acquisition, Prevu aims to expand its digital buying platform “beyond real estate” to include mortgage services.
“Real estate brokerage and mortgage are colliding as there is a developing super cycle of vertically-integrated offerings for consumers,” says Chase Marsh, co-founder and co-CEO of Prevu.
“Our acquisition of mortgage technology is a clear next step toward Prevu’s upcoming entrance into the mortgage vertical and long-term vision of empowering homebuyers by offering them all of the services they need in one place.”
Founded in 2015 and based in New York, Prevu’s homebuying platform allows customers to search and make offers to purchase new homes.
It currently operates in New York City, Boston, Philadelphia, Los Angeles, San Diego, Orange County, Seattle and the San Francisco Bay Area.