Bain Capital Ventures and others invested
Home buying startup Ribbon raised a Series A funding round from Bain Capital Ventures, Greylock, NFX, and NYCA. In a company’s press release, they mentioned they raised $225 million in combination of equity and debt. Although, we are sure most of that was debt, we still haven’t been able to confirm the breakdown.
How it works: After entering a soft contract, potential homebuyers frequently fail to secure the necessary financing to close the deal. Ribbon seeks to solve this problem by guaranteeing the sales price to the seller.
How they monetize: The startup charges the seller a 1.95 percent fee.