A Fintech Company Creating A New Asset Class Just Announced A $150 Million Investment

Point, a fintech startup that allows homeowners to sell equity stake in their homes, announced that hedge fund Atalaya Capital would purchase $150 million in homeowner equity instruments from the company.

Point allows homeowners to access equity in their homes without taking on new debt, which allows access to a new asset class for investors, according to CEO Eddie Lim.

The company plans to use the investment to expand operations. Point currently serves homeowners in California, Washington, Oregon, Colorado and Massachusetts, according to a press release.

The company is backed by leading Silicon Valley and Wall Street investors, like Andreessen Horowitz and former Citigroup Inc C chief executive Vikram Pandit.

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