Fund That Flip Raises $11M From Edison Partners

Online rehab real estate lending marketplace Fund That Flip said Wednesday it has raised $11 million from growth equity firm Edison Partners.

What To Know

New York-based Fund That Flip, which launched in 2014, provides short-term loans to developers seeking to buy, renovate and flip residential properties. The company then offers investors a chance to buy fractional shares of the loan as an investment.

Atlanta-based early state venture capital fund Fintech Venture Fund led the company’s seed round three years ago and since then the company said it has doubled its revenue, loan origination volume and customers base each year.

Fund That Flip works with flippers in markets around the country and has offices in New York and Cleveland.

Why It's Important

Fund That Flip said in a statement it will use the additional capital to expand its market share of the trillion-dollar residential real estate investment industry.

“Our mission is to enable our clients to create wealth and improve communities by investing in real estate,” said Matt Rodak, CEO and Founder of Fund That Flip. “This additional capital is going to further advance the mission to more clients and communities across the country,”

The company touts its platform as a way to help homebuyers find more affordable homes by renovating old or neglected homes to resell at a profit – but at still lower prices than new homes in a light period for single family home construction.

Jennifer Lee, Vice President at Edison Partners, led the investment and will join the Board of Directors at Fund That Flip.

New Jersey-based Edison manages more than $1.4 billion in assets.

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