EasyKnock, the first institutionalized residential sale-leaseback company in the U.S, announced a $20 million funding round co-led by Blumberg Capital and QED Investors, with contributions from FJ Labs, Correlation, Moderne, 7BC and Interplay.
The homeownership innovation platform shakes up a 100 year-old industry, enabling owners more options to take advantage of the equity they have in what is likely their largest asset. Further, EasyKnock offers the benefits of selling without the disruption of moving. One of EasyKnock’s products, “Sell & Stay,” is the first commercialized, residential sale leaseback program in the United States. Homeowners can sell their home at market value, access the money they need and remain in their home as a tenant with flexible terms.
“There is more than six trillion dollars of home equity in the U.S. today and we want to be able to unlock this value for homeowners,” said Jarred Kessler, CEO of EasyKnock. “In a time of economic uncertainty, EasyKnock has remained fully operational. We know that consumers are looking for flexibility and speed, and we see opportunity in offering solutions for consumers to monetize their equity and take control of their future.”
With these investments, EasyKnock will further enhance its technologies while scaling product offerings and adding to its employee headcount.
“We still believe in the American Dream,” said David Blumberg, founder and managing partner, Blumberg Capital. “During this downturn when many banks and i-buyers are hesitant or backing away from the residential housing market, we are doubling down to invest with American families. EasyKnock pioneered and continues to lead the emerging residential sale-leaseback category, which enables homeowners to sell and stay as tenants in their own home. We believe in EasyKnock’s mission to use AI and data analytics to provide American homeowners with needed financial flexibility.”
“EasyKnock empowers homeowners to transform the enormous amount of equity trapped in their homes at a time that banks are tightening credit policies,” said Frank Rotman, Founding Partner at QED Investors. “We’re thrilled to partner with EasyKnock to help solve the financial and emotional needs of homeowners seeking to unlock more value from their homes.”
EasyKnock provides new ways for homeowners to monetize their equity immediately by utilizing an AI-driven qualification and underwriting engine to identify suitable customers and close the sale within 30 days. Unlike traditional mortgage refinancing options, EasyKnock is a buyer, not a lender and therefore can provide solutions for a broader range of US homeowners. Through its two principal programs – Sell & Stay and MoveAbility – and partnerships with three of the top U.S. mortgage lenders for a unique referral pipeline, EasyKnock helps homeowners live better by making their equity work for them.
Since the last funding round in May 2019, EasyKnock has launched the MoveAbility for Realtors offering and announced partnerships.