Ribbon raises $ 150 million to expand the digital home buying platform nationally
NEW YORK and CHARLOTTE, NC, September 14, 2021 / PRNewswire / – ribbon, the homeowners company, announced today that it has secured itself $ 150 million, including $ 75 million in series C equity financing and $ 75 million in additional working capital. In addition, Ribbon has it too enlarged $ 500 million Credit, on the heels of 15x growth this yearThis investment enables more than $ 10 billion in house transactions annually and fuel Ribbon’s rapid expansion into new states.
Series C was spearheaded by Greenspring Associates, which included existing investors Greylock, Bain Capital Ventures, NFX, Nyca, Thomvest and. were involved Jake Seid. Ribbon also welcomes new strategic investors including First American Financial, Waterfall Asset Management, TriplePoint Capital, Spencer Rascoffs 75 & sunny activities, Gary Beasley, Gregor Watson, and Guy gal.
“We would like to thank our group of investors for their trust and support in our mission to make home ownership feasible.” Shaival Shahsaid Co-Founder and CEO of Ribbon. “With our new capital increase, we intend to aggressively expand nationwide, build more home ownership and meet significant demand from consumers and partners.”
Ribbon’s home ownership platform enables real estate agents and lenders to easily create high-yielding cash deals that empower their daily homebuyers – while giving sellers the peace of mind and speed of a guaranteed, on-time deal.
“The historically low stock of housing and the hypercompetitive housing market have opened eyes: everyday buyers are losing housing as affordability disappears, and other solutions for brokers and lenders are insufficient to fill the moment. They all deserve better, ”said Shah. “Ribbon has grown stronger by partnering with the broker and lender ecosystem – together we have provided the consumer with world-class software and home finance solutions.”
Above 100 broker and credit partners have created their own ribbon-powered cash experiences and are part of a network of Create 20,000 agents and loan officers $ 600 million in the house offers a month on tape. Word of mouth represented an overwhelming chunk of demand that year, with the ribbon granted $ 1.5 billion in purchasing power last quarter alone to skilled homebuyers.
“At a moment when a third of home offerings are cash, Ribbon’s novel ecosystem approach gives consumers a competitive entry point,” said Seyonne Kang, Greenspring Associates. “With Ribbon growing exponentially, we look forward to working together as the company builds its footprint in The United States, and helping more people to compete and make home ownership a reality. “
Founded in 2017, Ribbon has grown to be the solution of choice for homebuyers, real estate agents, and lenders. Agents and lenders increasingly bring their customers and transactions to Ribbon as the company builds the country’s leading digital home ownership experience.
Founded in 2017 in new York and Charlotte, Ribbon has set itself the task of making home ownership possible. Ribbon enables everyday families to compete on an equal footing with wealthy individuals and institutional buyers by upgrading their offerings to profitable RibbonCash offers. As the leading real estate technology platform, Ribbon empowers brokers, brokers, and lenders to create a premium experience for home buyers and sellers through powerful financial products and digital workflow software. visit bandhome.com.
Communications Director, Ribbon