Real estate fintech company Reali has announced today that it has closed $250 million in new financing comprising $75 million in equity, $25 million in venture debt, and $150 million in warehouse financing. The round was led by Zeev Ventures with participation from Akkadian Ventures, Signia Ventures, and others. This brings to more than $300 million the amount raised by the company.
Founded in the US in 2016 by two Israelis - chairman Amit Heller and borad member Ami Avrahami - Reali has developed a one-stop-shop to make homeownership more simple, and affordable, through technology to serve homebuyers and sellers in a single, integrated platform. The company has 180 employees in the US and 25 at its development center in Israel.
The new funds, will finance Reali’s planned national expansion and product advancements to its Reali Trade-In and Reali Cash Offer services, which help homebuyers remove contingencies from their offers, which is particularly important in today's flourishing housing market.
Reali CEO Tyler Baldwin said, "This fundraising reaffirms Reali’s commitment to simplifying one of life’s most complex and stressful transactions in a streamlined way. After a year of tremendous growth, the results of our high-tech, high-touch approach are resonating with our customers. As we continue to scale, we are excited to have found investors and partners who share our vision of expanding our offering to new markets and continuing our quest to meet the individual needs of our customers."
In 2020, the company enjoyed more than seven-fold year-on-year growth, doubled its number of customers, and tripled average revenue per user (ARPU).
Zeev Ventures founding partner Oren Zeev said, "In a competitive proptech market, Reali stands out for its relentless focus on the consumer and its commitment to transform the complicated process of buying or selling a home. They have streamlined the process and engineered innovative financial solutions that fit the unique needs of today’s consumers. Tyler and his team couldn’t be better suited to take the company to the next level, and we are proud to expand our investment in Reali as the company continues to change the homeownership journey on a much larger scale."
Published by Globes, Israel business news - en.globes.co.il - on August 19, 2021
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