First American Financial and National Association of Realtors were among the investors in the $70m equity portion of the real estate financing service’s latest round.
US-based property purchase finance provider Knock received $220m in equity and debt financing yesterday from investors including financial services firm First American Financial and real estate trade organisation National Association of Realtors.
Foundry Group led the $70m equity portion of the round, which was also backed by fellow venture capital firm RRE Ventures as well as private investors M Night Shyamalan and Mauricio Umansky. The $150m in debt financing was supplied by unnamed entities.
Founded in 2015, Knock has built a digital platform called The Knock Home Swap that helps potential buyers secure loans for property purchases before their old home is sold. The company also provides a cash offer scheme for future homeowners dubbed Knock Go.
Sean Black, Knock’s co-founder and chief executive, said: “This capital puts us on a solid foundation and on a path to profitability by year-end so we can continue on our mission of revolutionising…
