Unison Home Ownership Investors has collected $40m in its Series B round led by F-Prime Capital.
Participation to the round also came from Citi Ventures and Royal Bank of Canada. Following the round of funding, F-Prime Capital partner David Jegen will join Unison’s board of directors.
California-headquartered Unison is a housing investment platform that helps homebuyers when purchasing a house. The company invests alongside the consumer, typically contributing half of the down payment, to give the owner more purchasing power, and lower monthly mortgage payments.
The platform works by Unison investing into the house, meaning there are no loan repayments, the company receives a share in the house and will earn its profit on the sale of property up to 30 years later. Unison will deploy between $7,000 and $75,000 and a homeowner can buyout Unison after three years.
The investment comes after the company reached a 1,000 per cent increase to growth in 2018 Q1. It also recently expanded the availability of its solution to reach 22 states, and hired Cari Jacobs as CMO and
This equity will be put towards growth in current and new markets, as well as building brand awareness. It will also look to expand its business operations, acquire new talent and develop the technology on its platform Quintin Gomez as head of engineering.
Unison CEO Thomas Sponholtz said, “I built Unison with home buyers, home owners and institutional investors top of mind and to bridge two massive needs: provide a form of capital for consumers and make residential real estate an investable asset class.
“In the build out, Unison was forced to ride out the market collapse, which only strengthened our resolve and solidified our belief that the platform could survive anything.”
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