Roofstock, a digital investment platform for property, has bagged $50m in its Series D round, bringing its total equity raised to $133m.
SVB Capital led the investment, with contributions also coming from Citi Ventures, Fort Ross Ventures and 7 Global Capital. Previous backers of Roofstock, Khosla Ventures, Bain Capital Ventures, Lightspeed Venture Partners and Canvas Ventures, also made commitments to the new round.
Proposed use for the new funds includes deepening the capabilities of its data science, product and engineering. Roofstock is also looking to expand its retail supply and distribution network and roll out its new service which helps institutional investors build tailored portfolios of single-family rental homes.
The platform helps investors of all sizes buy, sell and own properties as well as support them with data analytics, property management and other tools. Analytical tools let an investor compare and contrast different investment properties across the US.
Roofstock CEO and co-founder Gary Beasley said, “Roofstock makes it easy for anyone, no matter where they live, to add real estate to their investing strategy, with minimal overhead and no prior knowledge needed.
“This funding is a validation of our work to lower the barriers to entry and level the playing field for real estate investing. Roofstock gives individual investors the same level of information, access and operational support that used to be available only for large institutions.”
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