Authentic estate tech agency HomeLight agreed to acquire Accept Inc., a Denver-primarily based fintech loan company, in an all-stock transaction.
Settle for Inc. provides homebuyers a way to submit all-income presents on dwelling just after qualifying for a home finance loan, according to a assertion.
HomeLight also announced that it has raised $115 million in extra capital, like $60 million of Series D equity and $55 million of debt financing to fund functions. The transaction provides HomeLight’s total funding to about $645 million to day and its valuation to $1.7 billion.
“In a time period with so much volatility in the cash markets, our business is more powerful than ever,” Drew Uher, founder and CEO of HomeLight mentioned in the assertion. “This funding round is a testomony to our progress and the foreseeable future probable of our small business, and it’s enabled us to go on the offensive through unsure periods.”
The newest fundraising comes right after a Bloomberg report from a a yr ago that HomeLight was explained to be thinking of solutions for taking by itself general public.
Launched in 2012, HomeLight has backing from investors which include Zeev Ventures, Menlo Ventures, Team 11, Crosslink Funds, Bullpen Capital, Montage Ventures, Citi Ventures, Google Ventures, and many others.
HomeLight’s publicly traded opponents include Redfin (RDFN), Zillow (ZG) and OpenDoor Systems (Open up).
The HomeLight information on Thursday comes soon after a report on Tuesday that real estate brokerage Compass (COM) is reported to be slashing 10% of its workforce.