Homeward raised $120 million in Series D equity financing and secured $330 million in asset-backed debt facilities to expand its cash offer and bridge financing products. Saluda Grade led the Series D.
Other investors included Continental General Insurance Company, Citi Ventures, Magnetar, Harmony Partners, Norwest, Adams Street Partners, LiveOak Ventures, Parker89, Era Ventures, Javelin Venture Partners, and additional investors.
The $330 million debt facility will be used to fund additional home transactions.
Homeward plans to use the new capital to expand its cash offer and bridge financing solutions, improve its integrated home buying and selling technology platform, and accelerate growth across the 48 contiguous states.
The company’s products include Buy Before You Sell, Cash Offer, and Buy with Cash.
Buy Before You Sell allows homeowners to purchase a new home before selling their current property using short-term bridge financing and a guaranteed backup offer.
Cash Offer gives homeowners cash-sale certainty while allowing them to participate in potential upside when the property is later resold.
Buy with Cash enables buyers to submit cash-backed offers before refinancing into traditional mortgages after closing.
Homeward also integrates mortgage and title services through Homeward Mortgage and Homeward Title.
Since its founding, Homeward has partnered with more than 25,000 real estate agents and facilitated more than $4 billion in residential real estate transactions.
KEY QUOTES:
“This investment allows us to expand our cash offer and bridge financing solutions, helping agents win more business, deliver a better client experience and close more deals.”
Tim Heyl, Founder and CEO of Homeward
“We believe Tim and his leadership team have extensive experience in this market and have made commendable progress in proving their operating model.”
Ryan Craft, Founder and CEO of Saluda Grade
