Homeward Secures $120M Series D Funding
Homeward has secured $120 million in Series D equity financing. The company also secured $330 million in asset-backed debt facilities. The new capital will expand its cash-backed real estate financing solutions. Saluda Grade led the equity round alongside several institutional investors.
Participants included Continental General Insurance Company and Citi Ventures. Magnetar, Norwest and Harmony Partners also joined the round. Other investors included Adams Street Partners, LiveOak Ventures and Parker89. Era Ventures and Javelin Venture Partners also participated.
This raises the company’s total equity fundraising to $360m since 2018. The company will use the equity fundraising to grow its range of financing products. It will also improve its platform technology and accelerate its nationwide expansion.
Homeward Expands Cash Offers For Homeowners
Homeward helps homeowners manage challenges around buying and selling properties. Its financing solutions can remove home-sale contingencies and provide faster access to home equity. The company’s Buy Before You Sell product supports homeowners purchasing another property before selling their existing home.
It combines short-term bridge financing with a guaranteed backup offer. Its Cash Offer solution gives homeowners the certainty of a cash transaction. Homeowners can also participate in potential upside when their property is later resold.
Buy with Cash helps buyers make competitive cash-backed offers. Buyers can then refinance into a traditional mortgage after closing. Homeward has also expanded its Sell Before You List programme. The service allows homeowners to sell quickly without giving up their property’s potential market upside.
$330M Debt Facility Supports More Transactions
Homeward’s $330 million asset-backed debt facility supports more residential transactions and nationwide expansion through its real estate agent network. Source: Created by Ventureburn.
The new $330 million asset-backed debt facility will fund additional home transactions. The facility complements the company’s equity financing and supports its transaction-based business model. Homeward has partnered with more than 25,000 real estate agents.
The company has also facilitated more than $4 billion in residential real estate transactions. Its distribution model centres on real estate professionals rather than direct consumer advertising. Agents can use Homeward’s products to address financing and timing challenges.
The company’s platform also includes Homeward Mortgage and Homeward Title services. These products connect financing and transaction services within a single experience. The new funding will support expansion across the 48 contiguous states.
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Homeward Targets Nationwide Growth
The company also plans to make Buy Before You Sell available nationwide by year-end. This expansion comes as homeowners continue facing longer selling periods. Homeward founder and CEO Tim Heyl said agents remain central to successful transactions.
He said the company built its solutions around problems agents encounter with clients. The platform also uses technology to streamline transaction processes and underwriting. Homeward has incorporated artificial intelligence into some operational workflows.
Its systems can extract information from documents and assist with property reviews. These capabilities can help teams assess inspection reports, photos and property videos. Homeward’s latest financing provides additional resources for product expansion.
The company said its solutions are designed to improve certainty throughout the transaction. They address challenges involving timing, purchasing power and access to home equity. Homeward’s expansion comes after it broadened its product range following changes in the housing market.
The company initially focused heavily on helping homeowners buy before selling. Rising interest rates later made moving more expensive for many homeowners. Homeward responded by developing products for sellers seeking faster transactions.
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