Prudential Financial and DAG Ventures co-led the round
Homeownership investment startup Point has raised a $22 million series B equity round led by Prudential Financial and DAG Ventures, the company announced. Other investors include Ribbit Capital, Bloomberg Beta, and Andreessen Horowitz.
What they do: The startup partners with investors to buy small equity stakes in houses. Once a deal is agreed upon, Point pays the owner over a 10-year term without interest rates, according to VentureBeat.
Worth Noting: Homeowners can buy Point out, refinance, or sell their home at any time.
Not revolutionary: Banks have experimented with this idea in the past, but homeowners haven’t embraced it because of the requirement to either repay the ‘lender’ or sell their house within a specific timeframe. (VentureBeat)