FintekNews VC Deal of the Day – Roofstock Raises $20M

So many fintechs, so little time!  Today we’ve learned of a new firm that invests in single family homes for rentals.  Based in Oakland, CA, Roofstock has just secured a $20M Series B commitment with Lightspeed Venture Partners as lead.  We like to feature these deals so a) FintekNews readers can see what is hot in the world of fintech right now, and b) they can also find some potential places for investments for client portfolios. 

We found this one interesting, as it touches the real estate rental sector in an intersting, new way.

According to their website:

“Roofstock is the first online marketplace created exclusively for investing in leased Single-Family Rental homes that generate cash flow day one. Created by investors for investors, Roofstock provides research, analytics, and insights to evaluate and purchase independently certified properties.

Roofstock turns the old way of investing on its head, bringing transparency and efficiency to create a better way to transact. Buyers access vetted homes with current cash flow. Sellers market homes without lost income or disrupting tenants. Neighborhoods avoid signs in yards which could depress values. It’s win-win all around.

The most revolutionary aspect of the Roofstock marketplace is enabling investors to treat their real estate investments more like stock portfolios, focusing on asset allocation, rather than dealing with the hassles of researching and buying vacant homes that need to be repaired and leased. This creates significant time and cost savings for all parties.”

They offer both single investment properties for sale or you can invest through a fund, and you can also select specific markets.  They have advisors available to help investors create portfolios and also offer assistance with 1031 Exhange crieterion, IRA investing, selling and financing as well.  Quite an interesting platform for real estate investing for the individual. 

Total Equity Funding
$33.25M in 3 Rounds from 14 Investors

Most Recent Funding
$20M Series B on November 14, 2016

Read Full Listing at Crunchbase