Point seizes $8.4m for debt-free home buying

Real estate financing startup Point has raised $8.4m in a Series A round of funding led by Andreessen Horowitz.

The California company allows home owners to sell a fraction of their house to equity investors in order to receive capital of between $40,000 and $250,000 interest free.

This lets customers to buy a home without taking on debt.

If the property increases in value both the investors and the homeowner make money when the house is sold or refinanced.

The Series A round also drew investment from Bloomberg Beta and Rabbit Capital, as well as angel investors and takes the company total funding to $15.4m.

Point currently serves areas in California and Washington and says the capital will be used to expand its geographical reach.

It will also invest in developing its technology and marketing efforts.

Copyright ? 2016 FINTECH GLOBAL

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