Homeward, an Austin, Texas-based provider of cash-backed real estate financing solutions, has raised $120 million in Series D equity financing led by Saluda Grade and secured $330 million in asset-backed debt facilities. The equity round also included Continental General Insurance Company, Citi Ventures, Magnetar, Harmony Partners, Norwest, Adams Street Partners, LiveOak Ventures, Parker89, Era Ventures and Javelin Venture Partners.
The company said the new capital will be used to expand its cash offer and bridge financing solutions, enhance the technology behind its integrated home buying and selling platform, and accelerate growth across the 48 contiguous US states. The $330 million debt facility will be used to fund additional home transactions.
Founded in 2018 by Tim Heyl, Homeward works with real estate professionals to help buyers and sellers navigate financing and home-sale contingencies. Its offerings include cash-backed purchase solutions and services that allow homeowners to buy a new property before selling their existing home.
Homeward also brings together its affiliated Homeward Mortgage and Homeward Title services within its platform, connecting financing, mortgage and title processes and providing greater transaction visibility from offer through closing.
In May 2021, Homeward announced $371 million in growth capital, comprising $136 million in equity led by Norwest Venture Partners and $235 million in debt.
