Toronto, Canada-based property technology firm, Requity Homes, has successfully concluded a $26 million financing round, comprising both equity and debt funding. Co-led by Highline Beta and tech executive, Sam Sun, alongside continued support from major investor Boardwalk Investment Ltd (Kolias Family Office), Conconi Growth Partners, and various angel investors, the funding also includes new participants such as the Archangel Adrenaline Fund. Financial services executive and investor Mike Dobbins made a follow-on investment and joined Requity Homes’ board of directors.
Despite many Canadians having the financial capacity for homeownership, barriers such as lack of credit history for newcomers, income recognition challenges for small business owners and gig workers, and fair credit scores for families, hinder their ability to qualify for mortgages. Requity Homes is pioneering a modernized rent-to-own program, offering a third option beyond traditional homeownership or renting. This allows Canadians to rent and save for their dream homes with the option to purchase at a guaranteed price.
Founding partner at Highline Beta, Ben Yoskovitz, expressed excitement about supporting Requity Homes’ mission to enhance accessibility to homeownership. According to Sam Sun, a key aspect of Requity Homes’ program is its focus on financial education, helping clients prepare for homeownership through credit coaching and rent reporting.
Sam Kolias, CEO of Boardwalk REIT and President of Boardwalk Investment Limited, emphasized their belief in Requity Homes’ commitment to creating a fair and flexible homeownership program. The company, established in 2020, has experienced 5x year-over-year growth and received thousands of applications. The significant financing will aid in expanding Requity Homes’ reach from Ontario to Alberta, Manitoba, and Saskatchewan.
CEO Amy Ding highlighted the success stories of clients like Amanda and Brad, who transitioned from renting to owning in two years, and Maria and Jose, immigrants from Colombia who bought their home back in 15 months. Ding expressed pride in Requity Homes’ 80% success rate of customers buying back their homes within an average of 18 months.
The secured financing positions Requity Homes to continue empowering Canadians on their journey towards homeownership, fostering stability and financial growth for families across the country.
About Requity Homes:
Requity Homes Inc. aims to provide a fair and flexible alternative path to homeownership in Canada through a modernized rent-to-own program. This program, currently available in Northern Ontario, Saskatchewan, Alberta, and Manitoba, enables aspiring home buyers to live in their dream homes with the option to buy them back later while saving for their down payment one month at a time.
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By Ravi Kumar