Jay-Z & Will Smith Among Investors For Rent-To-Own Landis Startup
Written by B87FM on July 31, 2021
Landis, a startup that’s utilizing the basic rent-to-own technique to make house possession extra accessible is elevating $165 million in a brand new sequence of funding from buyers that embody Will Smith’s Dreamers VC and Jay-Z’s Arrive, the funding arm of Roc Nation.
The Collection A funding spherical additionally included investments from Signia Enterprise Companions, Sequoia Capital, and even the founders of fintech leaders resembling Plaid and Money App.
The corporate, based by Cyril Berdugo and Tom Petit, helps aspiring owners get on the street to possession by buying their desired house and renting it out to the consumer whereas they construct up their credit score as a way to qualify for a mortgage. To do that, the startup additionally coaches the consumer on greatest practices to constructing their credit score, saving for a down cost, and reducing down on their debt.
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“Monetary inclusion is actually vital to us,” stated Berdugo. “A side of Landis that we’re very proud to be part of is wealth creation for low-income Individuals.”
Within the grand scheme, the consumer finally purchases the house again from Landis at a predetermined [worth for as much as two years after Landis purchases it.
“We’re proud to have invested in Landis,” says Will Smith, in a press launch. “Landis is an revolutionary firm that additionally has a social mission we’re aligned with. We’re excited to be a part of a journey that helps Individuals obtain homeownership by way of monetary training.”
Neil Sirni, co-founder and president of Arrive provides: “We consider that Landis is decided to construct an organization that customers can belief. Our funding demonstrates our dedication to supporting Landis on their mission to make the trail to homeownership extra accessible, clear and empowering.”