We are excited to announce that Fintech Ventures Fund has led Fund that Flip’s $2 Million Seed Round, with participation from the Entrepreneurs Roundtable Accelerator.
About our Investment in Fund that Flip:
Located in New York City, Fund That Flip was founded in 2014 and provides fast, convenient, affordable capital for experienced real estate developers that buy and rehabilitate residential properties. Using new technology and their broad network of investors allows them to fund deals in as few as 10 days.
Fund That Flip’s investment platform connects investors with vetted real estate rehab projects sourced from quality operators around the U.S. Fund That Flip performs diligence on every project and funds each project with their own capital before making it available to a network of accredited investors.
Investors can review all details of the investment online, including third-party appraisals, and select projects that meet their individual criteria. Investors today are able to explore a wide range of projects, investing with a little as $5,000.
“This asset class offers 10-13% annual yield with 6-12 month hold periods in loans that are backed by an underlying real estate asset. There aren’t many other readily available investment opportunities that have this combination which makes what we’re doing particularly interesting to me,” - Founder/CEO - Matt Rodak.
Investment in real estate has been transformed since the JOBS Act went into effect in 2013. This legislation makes it possible for private startups and small businesses to raise capital publicly. A surge in online investment has led experts to predict this industry will exceed VC investment in 2016.
While there have been quite a few new entrants to the online real estate investment market, Fund That Flip is one of the only platforms that is explicitly focused on serving the short-term residential rehab loan market.
“The reality is there are good and hard working real estate entrepreneurs all over the country that provide a valuable service by “flipping” old properties into nice new homes. By giving these professionals access to capital, Fund That Flip is helping to bring these homes back to their former glory, while also creating jobs and positively impacting communities,” - Founder/CEO Matt Rodak.
Media Coverage:
Alleywatch - “This NYC Company Raised $2M to Make Real Estate Investing More Accessible”
New York Business Journal - “Real estate flipping gets crowd treatment with startup Fund That Flip”