The company has earmarked capital to go beyond its current reach of 22 states
Homeownership investment provider Unison Home Ownership Investors has announced that it plans to enter new markets beyond its current reach of 22 states after raising $40 million in its series B funding round.
The company also said that the new capital has been earmarked for growth in its existing markets and to build brand awareness, expand operations, acquire new talent, and further advance its technology platform.
The capital raise comes on the heels of the company’s recent program expansion as well as the additions of Cari Jacobs as chief marketing officer and Quintin Gomez as head of engineering.
The investment round was led by F-Prime Capital. David Jegen, partner at F-Prime Capital, will join Unison's board. Citi Ventures and Royal Bank of Canada also participated in the round.
"As housing affordability continues to decrease, especially in urban areas, Unison brings a new financial solution for home ownership that benefits consumers, lenders, and institutional investors," said Arvind Purushotham, managing director and co-head of venture investing at Citi Ventures. "We're excited to join Unison on its mission of providing home owners with accessible financing options."
Unison said its new funding underscores the growing consumer demand for alternative home financing solutions. Through its HomeBuyer and HomeOwner programs, the company enables consumers to use the money it provides for up to 30 years without interest or monthly payments.
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