- Nada recently announced it closed $8.1 million in funding. These are the details.
Nada – a fintech company making real estate wealth accessible to everyone through its investing, banking, and finance platform – recently announced that it has closed an $8.1 million seed round. LiveOak Venture Partners led the round with participation from Revolution’s Rise of the Rest Seed Fund, Capital Factory, 7BC Venture Capital, Sweater Ventures, LFG Ventures, Badra Capital, and Stonks Fund. And Nada plans to use the funds to expand its investment products, develop its secondary trading platform, launch and enhance its mobile app, and release the first real estate-backed debit card.
In the 3 years since its founding, Nada has delivered financial solutions that have powerful benefits for both real estate investors and homeowners. And the company is transforming the way people invest in real estate by providing access to opportunities that were previously only available to accredited investors.
For the first time, retail investors can buy and sell shares of a top city for as little as $250 on the platform by investing in Nada’s “Cityfunds” investment product. This product is an index-like real estate fund providing targeted exposure to a single city’s home equity market. And homeowners can access their home equity to spend on the Nada debit card without the encumbrances associated with adding new debt.
Through a combination of these solutions, everyone can start building real estate wealth on the Nada platform starting with opening a free account. In connection with the funding, LiveOak’s founding partner Krishna Srinivasan is joining Nada’s board of directors. And Jesse Stein, co-founder of Everyrealm, a metaverse investment and development company, will be joining Nada’s board of directors to support scaling investment products.
Nada is powered by a diverse group of talented people who believe everyone deserves access to real estate wealth. Co-founder and CEO John Green spent his 20s as a full-time touring and recording punk rocker before leading strategy and risk in the mortgage industry at companies like JPMorgan Chase, Washington Mutual, and Pacific Union Financial. And co-founder and CFO Mauricio Delgado dropped out of Stanford to start his first company at 19 only to return to finish his degree in Computer Science and subsequently earned his MBA there before launching a career spanning Wall Street to CEO of an auto fintech company.
Enabled by Nada’s proprietary regulatory-compliant and SEC-qualified framework, the company already demonstrated impressive growth with transactions consummated by over 1,500 users, 3 Cityfund public offerings, and a waitlist of over $300 million in homeowner equity on their platform. And while the democratization of alternative assets is becoming more mainstream, Nada is well-positioned to be the sector leader in unlocking real estate wealth for its users.
“Homeowners cannot access home equity without being burdened with more debt and individual investors lack access to real estate investment products. Nada’s business model solves both these problems by bringing liquidity to homeowners and real estate access to all investors. Krishna and the LiveOak team are unique given their roles as the lead investors in numerous proptech + fintech leaders such as Homeward, OJO, Opcity, Backflip and others. Partnering with them will enable us to leverage their expertise and relationships and help us fully realize our vision of reimagining how everyone can both unlock and further build their real estate wealth.”
— John Green, co-founder and CEO of Nada
“Democratizing access to real estate for investors while enabling homeowners to unlock the intrinsic value in home equity using debit cards is a complex problem that sits at the confluence of many large opportunities. The founders bring an uncommon combination of specialized skills around mortgage, specialty lending, regulatory compliance, and technology and possess boundless grit and vision to address this ambitious endeavor. We were blown away by the significant thought and infrastructure that has already been put in place in this regard and look forward to the partnership to building an enormous company.”
— Krishna Srinivasan, founding partner of LiveOak Venture Partners and board member at Nada