Unison Home Ownership Investors, a San Francisco, CA-based provider of home ownership investments, raised $40m in Series B funding.
The round was led by F-Prime Capital, with participation from Citi Ventures and Royal Bank of Canada. As part of the funding round, David Jegen, partner at F-Prime Capital, will join Unison’s board of directors.
The company intends to use the funds to accelerate growth in new and existing markets, build brand awareness, expand business operations, acquire new talent and further advance its technology platform.
Led by Thomas Sponholtz, CEO, Unison provides home ownership investments, modernizing home financing through long-term partnerships. Unison works with lenders, regulators and institutional investors to integrate home ownership investing into the U.S. housing finance system.
The company, which operates in 22 states plus Washington D.C., has two programs: HomeBuyer, which increases housing affordability and purchasing power for prospective home buyers by doubling to quadrupling their down payment, and HomeOwner, which allows existing home owners to unlock a portion of their home equity without borrowing.
Both programs enable consumers to use the money provided by Unison for up to 30 years without interest or monthly payments.