Belong, a California-based startup looking to empower residents to become homeowners, has raised $80m in Series C funding.
The round was led by Dan Wenhold at Fifth Wall. The company also said its major investors (Battery Ventures, GGV Capital, and a16z) are “doubling, tripling, and quadrupling down on our dream.”
Belong said its mission is to create authentic belonging experiences, empowering residents to become homeowners and homeowners to become financially free.
In a post on the company’s website, Ale Resnik (CEO) Owen Savir (president) and Tyler Infelise (head of product), said, “In simple words, we are on a mission to make the terms landlords and tenants obsolete. Replacing them with a more caring, empowering, and human-centric system. Putting people first.”
The company said it has made owning a rental home easy and stress-free enabling more individuals to build equity in, and generate cash flow from, their homes – ultimately building towards financial freedom.
Belong offers a one-stop-shop home management platform for homeowners so they never have to be a landlord, get financial tools to manage their investment, guaranteed rent, and have their home be taken care of by high-quality residents and its in-home maintenance team. As a result, the platform’s homeowners can become small-scale investors.
Resnik, Savir and Infelise, said,“We have created a new system, one made with love, that enables residents to receive extraordinary service while they build towards homeownership with each on-time rent payment, helping them break the perpetual renting cycle. Belong’s version of the housing market is one where homes are in the hands of regular people.”
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