Realty Startup Ribbon Home Scores $330 Million
Ribbon Home, a New York based startup that offers a new way to buy a home, announced it raised new funding.
The startup announced it has raised $330 million in venture debt and equity funding from Goldman Sachs and Greylock, both of which lead the funding in this round. Supporting investors in this round include Thomvest Ventures, NYCA Partners, Bain Capital Ventures, and NFX.
$30 million of the new funding is a Series B round from Greylock, and the rest, a debt facility from Goldman Sachs. The $300 million could be raised to $520 million if certain conditions are satisfied, according to the company.
Ribbon, which is also based in Charlotte, NC, launched in 2017 to creating a “level playing field and improving the experience for consumers and realtors in the home buying process.” The group of experienced technologists, financial and real estate experts aim to make the home buying process less taxing for both buyers and sellers. The collective Ribbon staff has overseen the purchase and sale of over 10,000 homes, and come from several tech and real estate firms including LendingClub, Twitter, Invitation Homes and Spotify.