Israeli-founded real estate and FinTech firm Reali has closed a $250m in new financing led by Zeev Ventures to change the way people experience home buying and selling.
The funding round includes $75m in equity, $25m in venture debt, and $150m in warehouse financing with participation from Akkadian Ventures, Signia Ventures, and others. The company now boasts more than $300m in total funding, with Zeev leading earlier rounds.
Founded in 2015 by Ami Avrahami and Amit Heller, Reali prioritises consumer interests through a team of local licensed real estate agents, an app that enables transactions between property buyers and sellers, and other technology-driven tools.
Reali will use the new funds for its planned national expansion and product advancements to its Reali Trade-In and Reali Cash Offer services, which help homebuyers remove contingencies from their offers and are especially helpful in today’s hot housing markets.
In addition to in-house Reali agents and an in-house team of specialists who collaborate and communicate 24/7, Reali offers alternative financing solutions. Reali Trade-In makes it easy to simultaneously sell an existing home and buy a new home in a coordinated transaction. It eliminates the pain of resale contingencies, moving twice, and paying two mortgages at once. Reali Cash Offer allows buyers to purchase the home of their dreams with a competitive, all-cash offer backed by Reali. These solutions help buyers and sellers find a competitive edge and close faster.
Commenting on the funding, 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.”
Zeev founding partner Oren Zeev praised Reali 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,” he said.
Copyright © 2021 FinTech Global
