Landed, a San Francisco, CA-based residential real estate company, raised USD$10.5m in Series A extension funding round.
The round, which brought the total funding to over USD$22m, was led by Omers Ventures with participation from existing investor Initialized Capital. In conjunction with the funding, Omers Ventures Managing Partner Michael Yang will join the Landed board.
The company intends to use the funds to continue to expand operations and its business reach.
Led by Alex Lofton, Landed offers a shared equity down payment program for essential employees – starting with educators – who wish to buy homes in the communities where they work, across the United States. Its down payment program invests alongside employees in education to help them reach a 20% down payment. Landed’s funds, up to $120,000 per household, come in the form of an equity investment, meaning that homebuyers share in a portion of the gain – or loss, if any – of the value of the home once it’s sold or refinanced.