Category: denver

Accept.inc secures $90M in debt and equity to scale its digital mortgage lending platform



A lot of startups were built to help people make all-cash offers on homes with the purpose of gaining an edge against other buyers, especially in ultra-competitive markets. 

Accepti.inc is a Denver-based company that is attempting to create a new category in real estate technology. To help scale its digital mortgage lending platform, the company announced today that it has secured $90 million in debt and equity – with $78 million in debt and $12 million in equity. Signal Fire led the equity portion of its financing, which also included participation from existing seed investors Y Combinator and DN Capital.

Accept.inc describes itself as an iLender, or a “technology-enabled lender” that gives people a way to submit all-cash offers on a home upon qualifying for a mortgage.

Using its platform, a buyer gets qualified first and then can start looking for homes that fall at or under the amount he or she is approved for. They can purchase a more expensive home, but any amount above what they are approved for would have to come out of pocket. Historically, most buyers don’t know that they will have to pay out of pocket until they’ve made an offer on a specific home and an appraisal comes under the amount of the price they are paying for a home. In those cases, the buyer has to cough up the difference out of pocket. With Accept.inc., its execs tout, buyers know upfront how much they are approved for and can spend on a (Read more...)

SpotOn raises $125M in a16z-led Series D, triples valuation to $1.875B



Certain industries were hit harder by the COVID-19 pandemic than others, especially in its early days.

Small businesses, including retailers and restaurants, were negatively impacted by lockdowns and the resulting closures. They had to adapt quickly to survive. If they didn’t use much technology before, they were suddenly being forced to, as so many things shifted to digital last year in response to the COVID-19 pandemic. For companies like SpotOn, it was a pivotal moment. 

The startup, which provides software and payments for restaurants and SMBs, had to step up to help the businesses it serves. Not only for their sake, but its own.

“We really took a hard look at what was happening to our clients. And we realized we needed to pivot, just to be able to support them,” co-CEO and co-founder Matt Hyman recalls. “We had to make a decision because our revenues also were taking a big hit, just like our clients were. Rather than lay off staff or require salary deductions, we stayed true to our core values and just kept plugging away.”

All that “plugging away” has paid off. Today, SpotOn announced it has achieved unicorn status with a $125 million Series D funding round led by Andreessen Horowitz (a16z).

Existing backers DST Global, 01 Advisors, Dragoneer Investment Group and Franklin Templeton also participated in the financing, in addition to new investor Mubadala Investment Company. 

Notably, the round triples the company’s valuation to $1.875 billion compared to its (Read more...)

Construction tech upstart Assignar adds a Fifth Wall with $20M Series B



Construction technology may not be the sexiest of industries, but it is one where tremendous opportunity lies — considering it has historically lagged in productivity. And, lags in productivity means project delays, which typically costs everyone involved more time and more money.

There are a number of larger players in the space (think Procore, PlanGrid and Autodesk) that are tackling the problems from the perspective of the general contractor. But when it comes to the subcontractors that are hired by the general contractor to do 95% of the work, the pickings are few and far between.

Enter Assignar, a cloud-based construction tech startup that was originally born in Australia and is now based in Denver, Colorado. Co-founder and CEO Sean McCreanor was a contractor himself for many years, and grew frustrated with the lack of offerings available to him. So, as in the case of many founders, he set out to create the technology he wished existed.

And today, Assignar has raised $20 million in a Series B funding round led by real estate tech-focused venture firm Fifth Wall. 

Existing backer Tola Capital and new investor Ironspring Ventures also put money in the round, which brings Assignar’s total raised since its 2014 inception to $31 million.

“I had 100 crews and workers out in the field, lots of heavy equipment and project work, and was running the entire business on spreadsheets and whiteboards,” McCreanor recalls. “With Assignar, we essentially help the office connect to the field and vice versa.”

(Read more...)

How 4 New Jersey pools turned into a startup that just raised $10M



As the oldest of 12 children, Bunim Laskin spent much of his teen years looking for ways to help keep his siblings entertained. Noticing that a neighbor’s pool was often empty, Laskin reached out to ask if his family could use her pool. To make it worth her while, he suggested that they could help cover her expenses for maintaining the pool.

Soon after, five other families had made the same arrangement with her and the pool owner had six families covering 25% of her expenses. This meant that the neighbor was actually making money off her pool. The arrangement sparked a business idea in Laskin’s mind. At the age of 20, he founded Swimply, a marketplace for homeowners to rent out their underutilized pools to local swimmers, with Asher Weinberger.

The Cedarhurst, New York-based company launched a beta in 2018, starting with four pools in the New Jersey area. 

“We used Google Earth to find houses, and then knocked on 80 doors with a pool,” CEO Laskin recalls. “We got to 100 pools organically. Word of mouth really helped us grow.” The site was pretty bare bones, he admits, with potential customers only able to view photos of the pools and connect with the pool owner by phone.

That year, Swimply did around 400 reservations and raised $1.2 million from friends and family.

In 2019, Swimply launched what he describes as a “proper” website and app with an automated platform. It grew “4 to 5 times” that year, (Read more...)

Casa Blanca raises $2.6M to build the ‘Bumble for real estate’



Casa Blanca, which aims to develop a “Bumble-like app” for finding a home, has raised $2.6 million in seed funding.

Co-founder and CEO Hannah Bomze got her real estate license at the age of 18 and worked at Compass and  Douglas Elliman Real Estate before launching Casa Blanca last year.

She launched the app last October with the goal of matching home buyers and renters with homes using an in-app matchmaking algorithm combined with “expert agents.” Buyers get up to 1% of home purchases back at closing. Similar to dating apps, Casa Blanca’s app is powered by a simple swipe left or right.

Samuel Ben-Avraham, a partner and early investor of Kith and an early investor in WeWork, led the round for Casa Blanca, bringing its total raise to date to $4.1 million.

The New York-based startup recently launched in the Colorado market and has seen some impressive traction in a short amount of time. 

Since launching the app in October, Casa Blance has “made more than $100M in sales” and is projected to reach $280 million this year between New York and its Denver launch. 

Bomze said the app experience will be customized for each city with the goal of creating a personalized experience for each user. Casa Blanca claims to streamline and sort listings based on user preferences and lifestyle priorities.

Image Credits: Casa Blanca

“People love that there is one place to book, manage feedback, schedule and communicate with a branded agent for one cohesive experience,” (Read more...)