Homium, a Los Angeles, CA-based home equity mortgage lender and provider of a securitization platform, raised $10M in Series A funding.
The round was led by Sorenson Impact Group and Blizzard, the Avalanche Ecosystem Fund.
The company intends to use the funds to expand operations and its development efforts.
Homium helps homeowners and investors achieve their home financing goals by using patented technology to monetize and securitize owner-occupied home equity at scale. It leverages capital markets for home equity through a fair and transparent product that puts homeowners’ interests first. The company enables individual homeowners to “sell” a slice of their primary residence, by taking out an on-title second mortgage in the form of a shared appreciation mortgage loan, which Homium then pools with other loans in an investment vehicle to offer a tokenized security to investors.
The first loans are live in Colorado, and the platform aims to expand to several other states.
FinSMEs
21/04/2024