Offerpad has been in business for less than four years and during that time we’ve been fortunate to experience some awesome things at the always-expanding company, with our customers and among our partners. Strategic partnerships throughout our history have helped us along the way as we reshape real estate and work every day to provide the best way to buy and sell a home. We’re happy to maintain these relationships and attract new ones by achieving success with high efficiency to help our customers have excellent experiences.
Offerpad receives new funding from new investors
Offerpad recently closed a Series C round of financing that brings the company’s total funding, in less than four years, up to $975 million in equity and debt. The new equity funding – from a new investor – follows a previously undisclosed debt capital deal with Citi. Our funding with Citi came as a warehouse facility – our first from Citi, but third of this kind since our start in 2015. It was the first time we partnered with either of these investors and we’re glad to have them on board.
Reaching our expansion goals
We plan to use these funds to continue along the growth trajectory Offerpad announced a few months ago. In that projection, we said we were aiming to double our reach in 2019 and double that again the following year. We’re well on our way as we’ve opened in more locations including Tucson, Dallas-Fort Worth, and Houston since making that announcement. In addition, we’ll be opening in San Antonio and Austin next week.
Offerpad is continuing innovation in real estate
This new funding will primarily be used to take Offerpad’s real estate solutions to more and more households around the country. We’ll also use these investments to develop products and tools that will make the customer experience even better and also improve our working relationships with real estate agents everywhere we work.
So many benefits to using Offerpad
We are proud to have such great investing partners who are helping us give our customers the best moving experience possible. Since we got started a few years ago, Offerpad has always been about making real estate smoother than ever before. Thanks to our great partners, we’re happy to help families enjoy better moves between our fast, all-cash home purchase offer, flexible closing dates, free local move, Instant Access, Offerpad Home Loans, and ability to work with customers’ real estate agents, Offerpad is making buying and selling a home a fresh experience.