On the heels of continued growth and expansion, the social-impact focused company secures investment led by GV, with participation from Sequoia and Jay-Z’s Roc Nation.
NEW YORK–(BUSINESS WIRE)–Landis, the leading platform paving the way for renters to become homeowners, announced today it has raised $40M in Series B funding. With an industry-leading financial education and coaching program, Landis makes the path to homeownership more accessible. GV (formerly Google Ventures) led the round with participation from existing investors including Sequoia Capital, Jay Z’s Roc Nation fund Arrive, the National Association of REALTORS®’s Second Century Ventures, Operator Partners, Signia Ventures, and Team Builder Ventures. The funding will be used to enable continued growth and expand Landis’ coaching program.
In recognizing the importance of ensuring clients are set up for long-term financial success, Landis has earmarked $2M of this raise specifically to expand the breadth of its coaching program. The Landis coaches provide personalized and consistent one-on-one support as clients work towards improving their credit history and building their savings for a down payment. Once a client hits their goals, they are able to get a mortgage and become the owner of their dream home.
“We have proven there is a meaningful place for Landis in the American housing market,” said Cyril Berdugo, Co-Founder and CEO of Landis. “I’m thrilled that GV, along with many of our existing investors, sees the exciting opportunity ahead of us. This enables us to open the door to homeownership for more people, while expanding our first-of-its-kind coaching program to provide our clients with the support they need to reach homeownership.”
With the housing market experiencing sky-high interest rates, high inflation, and volatility – Landis is creating certainty in uncertain times, especially for families who would otherwise be kept out of homeownership. The model is straightforward – Landis buys a home on behalf of their client, who rents the home from Landis. During that time, the client prepares for a mortgage with a Landis personal coach and repurchases the home when they are ready for it.
With Landis’ pre-set buyback prices, clients have certainty over their down payment targets which helps create a better path. Landis also provides clients with a personal coach responsible for paving the way to homeownership, making the difficult process of reaching mortgage eligibility easier.
“It’s our goal at GV to partner with category-defining companies capable of changing a sector,” said Brian Bendett, Partner at GV. “Landis provides Americans with the confidence and security needed as they transition to owning their home. The impact Landis is having in such a difficult housing market is inspiring. We’re thrilled to be part of the journey with Cyril and the team.”
Since the announcement of the Series A funding in 2021, Landis has created a strong foundation for accelerated growth. Applications to Landis have increased by more than seven times, and more families are on the path to becoming homeowners thanks to the support and education provided from coaches.
“Landis makes the daunting path of homeownership easy with financial education and personalized coaching,” said Roelof Botha, Managing Partner at Sequoia. “Since we first partnered with Cyril and team over a year ago, Landis has guided and supported its many clients in becoming successful homeowners. We’re proud to double down on our partnership as Landis helps Americans build wealth during these uncertain times.”
To learn more visit Landis and follow along on Instagram, Twitter, Facebook, and LinkedIn.
About Landis
Landis paves the way for renters to become homeowners. Landis clients pick a home and rent it until they’re ready to take on a mortgage, removing many of the barriers that make homeownership difficult. By offering aspiring homeowners the coaching and resources required for the transition, Landis is revolutionizing accessibility within residential real estate. Backed by prominent investors and celebrities, Landis is headquartered in New York City and operates in over 50 markets nationwide. To learn more visit www.landis.com.
Contacts
Media:
Amanda Cobos
Landis Technologies
press@landis.com
