Real estate tech company Haus has raised $15.75 million in Series A funding led by BlueRun Ventures.
The funding round was also joined by Assurant Growth Investing, Leap Global Partners and RIT Capital.
The company said the financing will be used to fund Haus’s growth to meet the demand of cash-strapped homeowners seeking to reduce their payments and tap home equity.
Along with this funding round, Jonathan Ebinger with BlueRun Ventures will join Haus’s board of directors.
“Haus has taken an entirely new approach at how home financing can work, and they’re using it to create more flexibility for homeowners,” said Jonathan Ebinger, BlueRun Ventures general partner. “To be able to partner with a team that’s redefining the way people own homes, offering liquidity and making ownership more manageable – especially when it’s become unmanageable for so many – is very exciting for us.”
Haus’s co-investing platform presents a new way to own a home, the company said. When owners partner with Haus, a customized dashboard tracks the value of their property and allows them to buy more equity anytime or cash out, with funds delivered in days.
Jonathan McNulty, CEO of Haus, said that this new funding round will enable Haus to partner with more homeowners throughout California, Washington and Oregon.
“Since we launched our platform last July, the team has been united in our mission to bring flexibility and savings to homeowners with instant access to their equity and lower monthly payments,” McNulty said.
“With what’s happening right now due to COVID-19, people are struggling more than ever,” he said. “Many have lost their jobs, they’re using up their savings to make their payments. Haus makes the trials of owning a home easier to navigate, and we’re happy that with this investment, we’ll be able to offer relief to additional owners through these uncertain times.”