Hometap, a Boston, MA-based home equity investment platform, secured $12m in Series A funding round.
The round was led by G20 Ventures, with participation from previous investor General Catalyst as well as American Family Ventures, the venture arm of AmFam Insurance, and Pillar.
The company intends to use the funds to build out its home investment platform and data science capabilities, and further extend its initiatives to educate homeowners.
Founded in 2017 by Jeffrey Glass, CEO, Hometap provides near-immediate access to funds for homeowners to address important financial needs or to pursue future opportunities. In addition, the company offers accredited investors the ability to participate in an asset class with low correlation to the U.S. stock market and hedge against inflation, while allowing homeowners to retain control and responsibility for their homes.