Fintech start-up Landis has raised $165 million in debt and Sequence A financing led by Sequoia Capital.
The spherical additionally included funding from Arrive, the enterprise capital arm of Jay-Z’s Roc Nation, and Dreamers VC, co-founded by singer and actor Will Smith. Present investor Signia Enterprise Companions additionally participated.
The funding brings Landis’ complete debt and fairness raised to $182 million for the reason that firm’s launch in 2018.
Commenting on the elevate, Smith says: “Landis is an revolutionary firm that additionally has a social mission we’re aligned with.”
Aimed toward potential householders who’re unable to safe a mortgage as a consequence of poor credit score or debt, Landis makes use of underwriting know-how and information science to assist US renters get on the property ladder.
The New York-based agency permits purchasers to lease their house for as much as 24 months and buy it as soon as they’re “mortgage-ready”.
The corporate has additionally launched the Landis Homeownership Coach iPhone app to assist individuals get monetary savings for his or her new house, with the purpose of creating “homeownership and monetary literacy accessible to everybody”.
Co-founder Cyril Berdugo says the funds will probably be used to gas the corporate’s growth into new states, rent further workers, and product improvement.