American Family Ventures took part in the home equity investment platform's G20 Ventures-led series A round, which will fund product development.

Hometap, the US-based developer of a home equity investment platform, has raised $12m in a series A round backed by American Family Ventures, a subsidiary of insurer American Family.

G20 Ventures led the round, which also featured fellow venture capital firms Pillar and General Catalyst, the latter described as an existing investor. The funding was raised by Hometap last month but only disclosed last week.

Founded in 2017, Hometap invests up to 20% in the equity of a home, allowing…