Roots Homes, a Las Vegas, NV-based proptech company providing fractional homeownership, raised $2.2M in funding.
The round was led by Other Ventures, with participation from Behind Genius Ventures and Waveline VC.
The company intends to use the funds to accelerate the growth of its Las Vegas operations following the beta launch late last year.
Led by Lauren Self, Founder and CEO, Roots provides a fractional homeownership service by allowing renters to purchase shares in their home each month. The company provides customers with a shopping budget to find a home. When they find one, Roots will buy it for them so they can move in. The equity a renter builds can be held long-term, go towards a downpayment, or be cashed out if they choose to move out. The company will buy “most homes” in Las Vegas for their customers, allowing them to “test drive” a home to see if they like it before committing to buy it. Terms are 12 months and can be renewed year after year until a customer decides to either move out or purchase the home from Roots.
FinSMEs
27/01/2023