The San Diego-headquartered home equity-focused fintech Splitero announced its expansion into five states: Florida, Nevada, Ohio, Pennsylvania, and South Carolina.
Splitero Home Equity Investments (HEIs) is designed to allow homeowners to use their home equity to paying off debt, renovate a home, or achieve financial goals without selling their home or refinancing a low-interest rate mortgage. According to the company, Splitero’s Maturity Match aligns homeowners’ HEI term length with their remaining senior mortgage timeline so they don’t have to repurchase their HEI option before paying off their mortgage. Homeowners can repurchase anytime within their term without penalty, giving them the flexibility to repurchase at their convenience, the company added.
Splitero also operates in Arizona, California, Colorado, Oregon, Tennessee, Utah, Virginia, and Washington, and it plans to expand into additional states throughout 2025. Splitero recently secured a $300 million strategic investment from funds managed by Antarctica Capital and a $350 million capital commitment from Blue Owl-managed funds to provide more homeowners with access to their home equity.
“Homeowners are seeking smarter ways to access their home equity without additional debt, selling or refinancing their homes,” said Michael Gifford, CEO and founder of Splitero. “We are happy to support families in reaching their financial goals.”
