Rapidly-growing fintech company’s award-winning end-to-end investment platform empowers real estate entrepreneurs to create wealth and value in their communities
NEW YORK, NY, November 16, 2021: Fund That Flip, the New York City- and Cleveland, OH-based real estate-focused fintech platform, today announced the first close of its $20 million Series B funding round. The financing was led by GPO Fund of New York, with participation from MassMutual Ventures and Tribeca Early Stage Partners. More than 50 Fund That Flip clients also participated in the capital raise via an AngelList syndicate led by proptech investor, Jonathan Wasserstrum. Earlier investors included Edison Partners and SoundBoard Venture Fund. The investment will help further the expansion of the firm’s proprietary technology platform that provides investors access to scalable capital and passive investment opportunities. The raise will also accelerate the company’s national expansion, development of technological innovations for an underserved industry, and exploration of global opportunities.
“Real estate investors play an integral part of the economy in building homes, creating jobs, and growing businesses and communities,” said Matt Rodak, founder and CEO of Fund That Flip. “Since our inception, we have been dedicated to solving the problem so many entrepreneurs face: access to capital and technology to grow their businesses. This round of funding accelerates our mission to deliver technology-first solutions that create even more value for the local entrepreneurs who are themselves creating value in their own communities.”
With an aging housing stock and 72 million millennials seeking to transition from apartment living to single-family homes, Fund That Flip is uniquely positioned to expand its technology and track record of enabling local real estate entrepreneurs to scale their businesses with reliable access to financial services and technology. The company plans to continue to broaden its platform into an end-to-end real estate investment operating system designed to support the information and capital needs of the local real estate entrepreneur.
“With this raise, we plan to create even more innovative solutions for real estate entrepreneurs, bring them additional value through optimizing the real estate investing ecosystem with data and technology, and continue to provide unparalleled customer service to help real estate professionals drive their businesses forward. We’re thrilled to partner with GPO Fund because they have a proven model of helping companies disrupt analog markets through the creation of data-driven solutions and platforms,” Rodak said.
As part of the round, Jeff Stewart, partner and managing director at GPO Fund, will join the Fund That Flip board of directors. “I’m really excited by the way Fund That Flip is leveraging data and technology to empower a huge and underserved market. While they have grown tremendously fast over the past twelve months, we believe the opportunity in front of them is enormous,” said Stewart. “Fintech companies are transforming entire industries through vertically integrated technology solutions, and the team at Fund That Flip has an impressive track record of leading that innovation within the real estate space.”
Fund That Flip is one of the fastest-growing private companies in the U.S., on pace to grow its revenue by 300% year-over-year and doubling its customer base since 2020. Their technology platform has facilitated over $1 billion in real estate investments, with 99.1% return of principal, and has achieved profitability since the close of their Series A in August 2019. Shulman Rogers Gandal Pordy & Ecker, P.A., acted as legal counsel for Fund That Flip.
About Fund That Flip
Fund That Flip is the leading end-to-end platform for local real estate entrepreneurs. The company’s technology platform focuses on providing solutions for the entire residential real estate market and passive wealth generation for both individual and institutional investors. With offices in New York City and Cleveland, Ohio, Fund That Flip helps restore communities across the United States through its network of experienced, dedicated real estate entrepreneurs, backed by a diverse base of investors. Additional information can be found at www.fundthatflip.com.
About GPO Fund
GPO Fund is a venture capital firm that invests in technology-enabled businesses seeking to disrupt and dominate the industries in which they operate. We believe the best founders want to accelerate international expansion and entry into the public market. Based in New York City and working with co-investors globally, GPO Fund leverages its extensive cross-border, operational, and technical expertise to help companies scale and create enterprises of lasting value. For more information, visit www.gpofund.com.
About MassMutual Ventures
MassMutual Ventures (MMV) is a multistage global venture capital firm investing in enterprise software, cybersecurity, financial technology, and digital health companies. With our deep expertise and extensive Fortune 500 network, MMV helps entrepreneurs build compelling and scalable companies of value. MMV has offices in Boston and Singapore, with $450 million under management across five funds. The US-based team invests across North America, Europe, and Israel, while the Singapore-based team invests across Southeast Asia, Hong Kong, India, Australia, and New Zealand. For more information, visit www.massmutualventures.com.