QuantmRE, a real estate finance platform that originates and funds Home Equity Agreements, is raising growth capital on Republic. According to the offering page, QuantmRE is seeking up to $1.07 million under Reg CF for a Crowd SAFE at an $8 million valuation cap with a 20% discount.
The Fintech seeks to provide the tools for qualified homeowners to get a lump sum of cash from their home equity. QuantmRE is quick to clarify that it is not offering reverse mortgages nor loans, instead the company takes a portion of the ownership in your home. They benefit when your home increases in value. Of course, if your home declines in value, they lose out as well.
QuantmRE also generates fees from originations when a Home Equity Agreement is completed.
The offering on Republic indicates that the early-stage venture has paid out $1.5 million to date with another $3.5 million in the pipeline. Over 270 applications have been submitted with twelve completed so far.
The company shares that there are several other participants in the market providing the same, or similar, service. These include Unison, Point, HomeTap and Noah (previously Patch Homes that recently raised $150 million) – each of which has generated venture capital investments. The company believes that the potential market is huge.
QuantmRE is founded by Matthew Sullivan who previously founded Crowdventure.com and two other real estate funds, according to his bio.
QuantmRE has been around for a bit. Crowdfund Insider previously reported that the company had raised over $1.7 million in seed capital including the support of David Moss, founder StrongBlock.io (along with several others). At one point in time, the company planned a security token offering.
If you are interested, you may review the company’s Offering Circular here.
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