EasyKnock has raised a $215 million debt and equity round, the company announced. Blumberg Capital led the $12 million equity component, while the rest of the money was in the form of debt.
What they do: The startup buys homes and subsequently rents them back to the previous homeowner for a fixed period of time. When the lease ends, the renter has the option to move out or reacquire the house based on the previously agreed price.
What’s next: EasyKnock will use the new funds to launch MoveAbility, which will enable homeowners to sell their property to the startup while staying in their ‘old’ house as renters. This reduces the sense of urgency to immediately find a new house after selling.
Heard on the Street: EasyKnock CEO Jarred Kessler: “We are continuing to create innovative flexible homeownership products that enable homeowners to access their equity. With MoveAbility, we’re offering homeowners autonomy of the process of bridging between their current home and their future home.”