Backflip announced a significant corporate milestone with the formation of its tech-enabled asset management subsidiary and the completion of a $10 million corporate equity raise as the real estate FinTech platform moves to expand its presence across the residential investment landscape. The Austin-based company, which provides technology and capital solutions to residential real estate investors, said its new subsidiary, Backflip Asset Management, now manages approximately $175 million in assets under management.
The newly enhanced platform builds on the company’s vertically integrated structure, which includes a captive loan originator and servicer designed to streamline capital deployment for investors.
The $10 million corporate equity raise, completed earlier this year, was funded by existing investors, including FirstMark Capital, LiveOak Venture Partners, and Vertical Venture Partners. In addition to the company’s structural expansion, Backflip introduced a new leadership framework that became effective in July 2025. Co-founder Jake Rome was elevated to Chief Executive Officer after previously serving as Chief Investment Officer and Chief Operating Officer. Rome co-founded Backflip in 2020 with Josh Ernst.
Backflip stated that the formation of the asset manager and the leadership changes occur at a time of accelerating demand from institutional private credit investors seeking improved access to single-family investment strategies. The company stated that its vertically integrated approach provides a more efficient framework for deploying capital at scale into a segment that remains challenging for institutions to access through traditional channels.
The company’s expansion follows a period of significant operational growth. Backflip’s origination subsidiary has funded approximately $700 million in residential transition loans, and its servicing arm oversees a portfolio of more than 1,200 loans. The company has recently expanded beyond transition loans with the launch of a rental loan product, and is piloting additional solutions for real estate investors, including HELOCs and Home Equity Agreements. As the platform broadens its investment capabilities, Backflip also promoted Richard Porteous to Chief Investment Officer. Porteous previously served as Vice President of Capital Markets and Portfolio Manager.
How the funding will be used: The funding will support continued technology development as well as scale its origination, servicing, and asset management operations. Founded in 2020, the company offers technology, data, and financing tools to help entrepreneurs invest in single-family housing, thereby strengthening local communities. Backflip originates and services loans through its subsidiary Double Backflip.
KEY QUOTES:
“This evolution represents a pivotal next step in Backflip’s journey. We are responding to the significant demand from institutional private credit investors. By aligning our technology and capital, we are creating a new, more efficient model to deploy capital into single family investment strategies, which are notoriously difficult to access at scale. I am excited to lead our talented team as we build a best-in-class platform designed to deliver durable returns to our capital partners.”
“Richard’s leadership will be integral as we expand our asset-backed investment strategies and grow assets under management. The launch of our rental loan product is a prime example of this strategy in action, allowing us to quickly scale a high-demand product.”
Jake Rome, Chief Executive Officer
