UpEquity secures $50 million
UpEquity, the startup giving homebuyers more buying power, has raised $20 million in equity funding and secured $30 million in debt financing. The round was led by S3 Ventures and included participation from Next Coast Ventures, BP Capital Management, Alumni Ventures, Gaingels, Launchpad Capital and Early Light Ventures.
Founded in 2019, the Austin-based startup is part of a trending category where companies make cash offers on behalf of homebuyers, giving them more buying power and potentially shortening the process. UpEquity is currently licensed in California, Colorado, Florida, Illinois and Texas.
“For the first time in history, single family homes are an institutional asset class. You have Blackstone and other private equity firms or sovereign wealth funds that are buying full neighborhoods with all-cash offers. And so, in this environment with constrained supply and increased demand, the average American is being excluded from accessing single-family housing, And that’s what we’re here to help solve.” – UpEquity co-founder and CEO Tim Herman.