Ribbon, a NYC- and Charlotte, NC-based homeownership company, secured $150m.
The funding is inclusive of:
- $75m in Series C equity financing led by Greenspring Associates, with participation from existing investors Greylock, Bain Capital Ventures, NFX, Nyca, Thomvest and Jake Seid, and new strategic investors, including First American Financial, Waterfall Asset Management, TriplePoint Capital, Spencer Rascoff’s 75 & Sunny Ventures, Gary Beasley, Gregor Watson, and Guy Gal; and
- $75m in additional working capital.
Additionally, Ribbon has also upsized its $500m credit facility.
The company intends to use the funds to accelerate expansion into new states.
Founded in 2017, and led by Shaival Shah, CEO, Ribbon provides a homeownership platform that allows real estate agents and lenders with the ability to design winning cash offers, empowering their everyday homebuyers — while providing sellers with on-time closing. Over 100 brokerage and lender partners have created their own Ribbon-powered cash experiences, growing to a network of 20,000 agents and loan officers creating $600 million in home offers a month.