POINT SECURES $115 MILLION IN SERIES C FUNDING TO SCALE HOME EQUITY PLATFORM AND EXPAND FOOTPRINT
PALO ALTO, Calif., May 3, 2022 /PRNewswire/ -- Point, a fintech company and home equity platform that provides homeowners access to equity financing in exchange for a fractional share of the future value of their homes, has secured $115 million in additional funding to accelerate company growth. Point's Series C fundraise was led by WestCap, with participation from other existing investors Andreessen Horowitz, Ribbit Capital, Redwood Trust, Atalaya Capital Management, and DAG Ventures. New investors include Deer Park Road Management, The Palisades Group, and Alpaca VC.
- Point has experienced rapid growth, with Q1 2022 funding volume up more than 5x YoY.
- "We've built strong momentum at Point and we welcome this vote of confidence from premier equity investors in our continued success," said Eddie Lim, CEO and Co-Founder of Point.
- The $115 million funding allows Point to scale its home equity platform while extending its execution and distribution advantages.
- To date, Point has raised over $170 million in equity capital.