New Investment: EasyKnock
We’re very excited to announce Interplay Ventures’ fourth investment from our recently formed Fund II: EasyKnock. We invested in the company’s Series B alongside QED Investors and Blumberg Capital.
A home is the most valuable asset most people will ever own. While the equity homeowners build-up is valuable not everyone can access it on acceptable terms. One-third of housing market participants do not even have a mortgage, tying up even more equity in their homes. The lack of attractive financing options deprives homeowners of the ability to leverage their cash to seize a new opportunity, achieve a financial objective, or simply take charge of their future.
Qualifying for a traditional loan depends on multiple factors, many of which are outside the homeowner’s control, including a minimum credit score and W2 income requirements. Over 12 million U.S. homeowners, a staggering 14% of the market, do not have a credit score above 650 making it very difficult to get home equity lines of credit.
EasyKnock provides homeowners with the liquidity of a sale, but with more optionality, as they can: (1) stay in their home, (2) access capital, and (3) gain appreciation value on their home. EasyKnock is able to do so in a quick, easy, and non-disruptive way. Americans no longer need to be uprooted from their homes to access their capital — EasyKnock’s first product, Sell and Stay, allows customers to become renters in their homes with an option to buy the house back at any time.
EasyKnock’s portfolio of homes continues to grow (Read more...)