The home equity market represents a tremendous opportunity for enterprising fintechs, with an estimated value of $25 trillion as of 2022. Dominated by long-term home equity investment (HEI) contracts, startups and established financial players alike are scrambling to deliver top-tier stability and convenience to home buyers across the country.
That’s where Point comes in. Founded with the unique offering of securitization backed by HEI contracts, the Palo Alto-based fintech is ready for another major expansion into the market with the help of a successful $115 million Series C fundraising round.
“We expect this additional capital to accelerate our growth as we help cash-constrained homeowners and home buyers build financial stability and achieve their financial dreams,” said the company’s Co-Founder and Chief Executive Officer, Eddie Lim. The company will be using the additional capital to expand its current offerings into new markets while it develops new product lines in the world of home equity.
The Series C fundraise was led by WestCap, and saw new interest from Deer Park Road Management and Alpaca VC as well as returning investors Andreesen Horowitz, Redwood Trust, and DAG Ventures.