EasyKnock, a NYC-based institutionalized residential sale leaseback platform, closed a $3.5m seed financing in addition to new debt financing of $100m.
Seed investors included Montage Ventures, Crestar Partners and Blumberg Capital.
The company intends to use the funds to expand its business reach into new markets.
Led by Jarred Kessler, CEO and cofounder, EasyKnock provides a commercialized, residential sale leaseback program in the U.S. that enables homeowners to “sell & stay;” an innovative method for owners to sell their home while remaining in residence as a rental property with flexible terms.
With short and long-term lease periods and repurchase options available at any time, customers can regain ownership when they are ready.
The company raised $1.2m in seed funding in 2017, which it used to expand the team and refine product-market fit.
It is projected to hit profitability in 2019.