The Toronto-based proptech Requity Homes announced the closing of $26 million in equity and debt financing.
Requity Homes offers Canadians a rent-to-own program that enables them to rent their residence while being able to save money the option to purchase at a guaranteed price. The company said the new financial input will help extend its reach within target markets from Ontario to Alberta, Manitoba and Saskatchewan.
“With the increasing challenges in the housing market, alternative paths to homeownership are essential,” said Amy Ding, CEO of Requity Homes. “We’re proud to share that 80% of our customers have successfully bought back their homes in 18 months on average. This is a strong testament to our commitment to providing innovative and practical financing solutions for many newcomers, self-employed workers, and business owners in need.”
The financing round was co-led by Highline Beta with tech executive and angel investor Sam Sun. Other participants included Boardwalk Investment Ltd (Kolias Family Office), Conconi Growth Partners and several angel investors, with new participants including Archangel Adrenaline Fund. Mike Dobbins, a financial services executive and investor made a follow-on investment and was appointed to the Requity Homes’ board of directors.
“We’re excited to continue supporting Requity Homes and its social mission to make homeownership more accessible for an underserved customer segment,” said Ben Yoskovitz, founding partner at Highline Beta.
;
