Mynd raises $57.3M at an $807M valuation to give people a way to invest in rental properties remotely



Mynd, a company that aims to make it easier for people to buy and manage single-family rental properties, announced today it has raised $57.3 million in funding from QED Investors.

The financing values the Oakland, California-based company at $807 million, and brings the company’s total raised to $174.9 million since its 2016 inception. Invesco Real Estate led its previous round, a $40 million raise, and committed $5 billion to purchase and rent 20,000 single-family homes through Mynd over the next three years.

Doug Brien and Colin Weil started Mynd with the goal of making real estate investing more accessible. The pair has built a platform for investors to find, finance, purchase and manage single-family rental properties — 100% remotely.

“We don’t outsource to partners. We do that all in-house,” Brien told TechCrunch. “We remove the geographical barriers to real estate investment, making it possible to invest in 25 cities from anywhere in the country — all from the comfort of home through our desktop interface and/or mobile apps.”

Currently, Mynd manages over 9,000 rental units in 25 markets across the country. The startup plans to expand to 15 additional markets over the next three years including, Indianapolis, Indiana and Memphis, Tennessee.

Mynd’s tech product is complemented by “boots on the ground” people in local markets, improving the speed and clarity of communications that the company can provide to Mynd residents, Brien said. 

“Plus it provides total visibility (Read more...)