Category: breyer capital

Homeward secures $371M to help people make all-cash offers on houses



Trying to buy a house in a competitive market is perhaps one of the most stressful things an adult can go through.

Competing with a bunch of people all putting offers on a house that fly off the market in a matter of days is not fun. One startup that is trying to give home buyers a competitive edge by giving them a way to offer all cash on a home has just raised a boatload of money to help it keep growing.

Austin-based Homeward, which aims to help people buy homes faster, announced today it has raised $136 million in a Series B funding round led by Norwest Venture Partners at a valuation “just north of $800 million.” The company has also secured $235 million in debt.

Blackstone, Breyer Capital and existing backers Adams Street, Javelin and LiveOak Venture Partners also participated in the equity financing, which brings Homeward’s total equity raised since inception to $160 million. 

Homeward’s model seems to be appealing to both home buyers (including first time ones) and agents alike, with lots of growth occurring since May 2020 when it raised $105 million in debt and equity. The company declined to reveal hard revenue figures but noted that its GMV (gross merchandise value) run rate is up over 600%+ year over year.

Also, as of March, Homeward says it had experienced a 5x increase in the volume of homes transacted and 9x year over growth in the number of new customers. Plus, It’s (Read more...)

BlockFi lands a $350M Series D at a $3B valuation for its fast-growing crypto-lending platform



If there were any doubt about a cryptocurrency boom, we need look no further than at the explosion of growth of certain companies in the space.

One such company is BlockFi, which today announced it has closed on a massive $350 million Series D funding that values it at $3 billion. While this news in and of itself is certainly attention-getting, it’s even more impressive when you consider the startup just raised a $50 million Series C last August at a $450 million valuation. The latest financing brings its total equity raised since inception to about $450 million, with the company raising $100 million across its seed and Series C rounds.

Zac Prince — who comes from a background in consumer lending —  founded BlockFi with Flori Marquez in 2017. The Jersey City, New Jersey-based startup raised $1.6 million in a seed round of funding that closed in 2018 and was led by ConsenSys Ventures and included participation from SoFi.  

Prince describes BlockFi as a financial services company for crypto market investors that offers a retail and institutional-facing suite of products. On the retail side of its platform, people can use its mobile app to earn a yield on their crypto holdings (6% on Bitcoin, 8.6% on stablecoins), buy and sell crypto and get low-cost loans secured by the value of their crypto portfolio “so they can get liquidity without selling,” he said. Specifically, clients can buy and sell digital assets (from Bitcoin, Ethereum and Link to Litecoin, PaxG (Read more...)