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Hometap
Home equity investments platform
- 201-500 employees
- B2C
- Lending
- Investing
- Real Estate
- Financial Services
- 800 Boylston St., 16th floor Boston, MA 02199
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Company mission
To make homeownership less stressful and more accessible.
-11% employee growth in 12 months
Otta's take
Xav Kearney
CTO of Otta
Hometap provides homeowners with a unique way to access their home equity without selling their properties. As self-proclaimed investors, not lenders, they provide smart loan alternatives which allow homeowners to access funds without taking on debt.
Hometap has a simple and transparent pricing model which appeals to first-time buyers and seasoned property investors alike. The company provides cash in exchange for shares in a property. The homeowner is not required to make monthly payments, and Hometap receives their share of the investment once the house is sold or when the homeowner buys them out within the 10-year period. What makes Hometap unique from its competitors is that they don't charge a monthly or appreciation fee. This is more appealing to homeowners as the amount they owe will not increase, even if their home significantly rises in value.
Hometap operates in a number of states, and has seen good investment that will facilitate further expansion within the US. Its most recent funding round, the largest to date, came at a time of rapid growth and expansion for the company and will enable it to maintain strong momentum moving forwards.
Benefits
- Company Culture: Strong teams are built on strong bonds. Our team regularly participates in sponsored lunches, and happy hours. Free snacks are provided (we have a generous budget for chocolate-covered almonds.)
- Healthcare Coverage: We offer and cover the cost of a healthy amount of comprehensive health and dental plans to take care of yourself and your family.
- Competitive Benefits: In additional to base salary, we provide the opportunity to contribute to a company-sponsored 401k plan with matching contribution, as well as commuter benefits.
- Work-Life Balance: It is important for us to support you in your life outside of work. We offer a flexible work schedule, paid parental leave, and unlimited PTO with advanced approval.
- Learning & Development: We support the ongoing growth of our team members through professional development opportunities.
- Generous Share Package: We invite our employees to participate in ownership and achievement in our company.
Company values
- We execute...with intention: We value getting things done… and well. We move fast but do so thoughtfully. We see success as finishing rather than starting
- We roll up our sleeves: There's no job too big or too small. If there's something to be done, we step up and make it happen vs. waiting for others to volunteer
- We create solutions: We’re resourceful. We get creative and ask the right questions to figure out what it would take to solve a problem
- We collaborate with trust: We respect each other's authority and expertise. We give each other the benefit of the doubt. We are confident in our ideas, but our minds can be changed
- We put the team and the homeowner first: We are accountable to each other & to homeowners. We put ourselves in each others' shoes. We realize that the key to success is making sure we build value for others
- We communicate directly & constructively: We speak openly and clearly across teams and levels. We have an obligation to dissent - we see giving and receiving feedback as our responsibility
Funding (last 2 of 4 rounds)
Jan 2022
$245m
LATE VC
Dec 2021
$60m
EARLY VC
$417m
Total funding
This company has top investors
Founders
Jeffrey Glass
(CEO)Also the Co-founder of NRG eSport and StartingFive. Previously Chairman of Build Boston.