Fund That Flip, a New York City- and Cleveland, OH-based online financing platform for the fix-and-flip residential real estate market, raised $11m in funding.
The round was led by Edison Partners. In conjunction with the funding, Jennifer Lee, Vice President at Edison Partners, led the investment and will join the Board of Directors.
The company will use the funds for sales and marketing, developing an internal capital markets capability, and technology and product acceleration.
Led by CEO Matt Rodak, Fund That Flip is an online platform for investing in short-term residential real estate debt. The fintech platform focuses on raising capital for the residential rehab loan market and passive wealth generation for peer-to-peer lenders.
The company provides funding in as few as seven business days over an average of eight months and underwrites loans based on the characteristics of the real estate.