EasyKnock raises $20M as buyers look to tap home equity

Startup buys homes and allows sellers to stay as tenants

National /
Jun.June 16, 2020 08:00 AM
EasyKnock CEO Jarred Kessler (EasyKnock, iStock)

EasyKnock CEO Jarred Kessler (EasyKnock, iStock)

EasyKnock, a startup that buys homes and rents them back to sellers, has raised $20 million to scale up at a time when it is predicting homeowners will need access to home equity.

The Series B was co-led by Blumberg Capital and QED Investors, with participation from FJ Labs, Correlation, Moderne, 7BC and Interplay, the company said. In a statement, EasyKnock said it plans to use the funds to expand its product offerings and add staff.

“There are occasions where homeowners are forced to choose between their home and their finances,” CEO Jarred Kessler said in a statement. “We enable consumers to monetize their equity and take control of their future.”

Founded in 2016, EasyKnock is based in New York and Charlotte, N.C., and says it is operational in 50 states.

The round brings its total funding to nearly $350 million — including around $300 million in debt and $44.4 million in equity.

Last year, EasyKnock closed a $215 million Series A to launch its key “Sell and Stay” program, a sale-leaseback offering. The round, which included $12.5 million in equity, was led by Blumberg with participation from Montage Ventures, Kairos, FJ Labs, 500 Startups, Correlation Ventures and Rubicon Ventures. In addition to its sale-leaseback product, EasyKnock has a bridge lending program called MoveAbility.

EasyKnock is one of a slew of companies aimed at making home-buying more accessible.
Others include Noah, a San Francisco-startup that issues cash loans in exchange for an ownership stake. Noah secured $150 million in April. Last year, another home-equity loan startup, Point, raised $122 million. Roofstock, which raised $50 million last year, helps institutional investors buy and sell homes without forcing renters to vacate.


Related Articles

arrow_forward_ios
Zynga founder Mark Pincus, Hippo founders Assaf Wand and Eyal Navon, and LinkedIn co-founder Reid Hoffman (Getty, LinkedIn)
Hippo strikes $5B SPAC deal with LinkedIn, Zynga founders
Hippo strikes $5B SPAC deal with LinkedIn, Zynga founders
Opendoor CEO Eric Wu (Opendoor, iStock/Illustration by Alexis Manrodt for The Real Deal)
Opendoor revenue plunged 45% in 2020
Opendoor revenue plunged 45% in 2020
Photo illustration of CoStar Group CEO Andrew Florance (iStock, Getty/Illustration by Kevin Rebong for The Real Deal)
CoStar ups its bid to acquire CoreLogic
CoStar ups its bid to acquire CoreLogic
Richard Lampen and Howard Lorber (Vector Group)
Calling all founders: Howard Lorber’s Vector Group launches VC arm
Calling all founders: Howard Lorber’s Vector Group launches VC arm
The Real Deal's E.B. Solomont
Airbnb’s first earnings, behind CBRE’s $200M bet on Industrious
Airbnb’s first earnings, behind CBRE’s $200M bet on Industrious
From left: Fifth Wall’s Brendan Wallace, Tishman Speyer’s Rob Speyer, Social Capital’s Chamath Palihapitiya, Cantor Fitzgerald’s Howard Lutnick, Pershing Square Capital’s Bill Ackman and Opendoor’s Eric Wu
Making sense of the SPACe race
Making sense of the SPACe race
The Real Deal's E.B. Solomont
Redfin, CoreLogic and CoStar’s love triangle
Redfin, CoreLogic and CoStar’s love triangle
Clockwise left: Sam Zell, Spencer Rascoff, David Simon, and Russell Galbut
The definitive real estate SPAC tracker
The definitive real estate SPAC tracker
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...