Hometap raises $50 million

Hometap secured $50 million from Gallatin Point Capital to grow its home equity investment offering and build out a broader suite of homeowner-focused financial tools.

Founded in 2017, the Boston-based fintech gives homeowners cash upfront in exchange for a share of future home value, avoiding monthly payments and traditional borrowing.

The company has deployed over $2.3 billion in HEIs to more than 22,000 homeowners and plans to use the new capital to accelerate product expansion and adoption.

“Today’s homeowners face not only the challenge of buying a home, but also the ongoing costs of maintaining it and navigating uncertain economic conditions. This investment reinforces Hometap’s leadership in delivering alternative home equity solutions and will help the company reach more people with innovative options that make homeownership more sustainable.” – Matthew Botein, Managing Partner and Co-Founder of Gallatin Point Capital.