Backflip, a leading real estate FinTech platform transforming how investors access and deploy capital, has announced the formation of its new tech-enabled asset manager, Backflip Asset Management.
The company, known for its vertically integrated technology and capital solutions for residential real estate investors, now holds approximately $175m in assets under management.
The development of the new subsidiary comes as Backflip responds to increased demand from institutional private credit investors, prompting the firm to evolve its model and better align technology with capital deployment.
Backflip, which operates a captive loan origination and servicing platform, supports residential real estate investors with tools and financing products designed to streamline investment and portfolio growth. Its origination arm has already funded around $700m in residential transition loans, and its servicing division manages over 1,200 loans.
The newly launched asset management business aims to enhance the company’s ability to scale capital deployment into single-family investment strategies. Backflip said the new structure will enable a more efficient and accessible model for investors seeking exposure to such assets.
Supporting the transition, Backflip secured $10m in corporate equity funding this year from existing investors including FirstMark Capital, LiveOak Venture Partners, and Vertical Venture Partners. The company also implemented a new leadership structure, promoting co-founder Jake Rome to chief executive officer in July 2025. Jake had previously served as chief investment officer and chief operating officer.
In addition to the new CEO appointment, Backflip expanded its leadership team with the promotion of Richard Porteous to chief investment officer. Richard formerly served as the firm’s VP of capital markets and portfolio manager. The company highlighted that his role will be central to growing assets under management and advancing asset-backed investment strategies.
Backflip has also broadened its product suite, recently introducing a rental loan product (DSCR) and piloting additional solutions including HELOCs and Home Equity Agreements (HEA).
The firm said the latest corporate equity investment will support continued technological enhancements across origination, servicing, and asset management functions.
Backflip CEO Jake Rome said, “This evolution represents a pivotal next step in Backflip’s journey. We are responding to the significant demand from institutional private credit investors. By aligning our technology and capital, we are creating a new, more efficient model to deploy capital into single family investment strategies, which are notoriously difficult to access at scale. I am excited to lead our talented team as we build a best-in-class platform designed to deliver durable returns to our capital partners.”
Jake continued, “Richard’s leadership will be integral as we expand our asset-backed investment strategies and grow assets under management. The launch of our rental loan product is a prime example of this strategy in action, allowing us to quickly scale a high-demand product.”
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