Backflip Raises $35M in Funding

Jake Rome, COO andamp; Co-Founder; Josh ErnstCEO & Co-Founder (Photo: Business Wire)

Backflip, DallasTX-based fintech startup that improves how entrepreneurs invest in35m for residential properties in total funding.

This includes:

  • An $8m inEquity seed funding co-led Vertical Venture Partners(VVP and LiveOak Venture Partners(LiveOak) Participation from Revel Partners, Great OaksVC, and Greg WaldorfFormer founding investor Board Memberat Trulia Zillow;
  • $27m of debt funding

TheThe company plans to use the funds for product development and to accelerate its 2022 public release. in Texas Colorado.

Krishna Srinivasan, LiveOak’s founding partner, is joining Backflip’s board of directors along with Brad Corona, Managing DirectorVVP.

LedBy Jake Rome, COO and Josh Ernst, CEO, BackflipIs a real-estate financial technology company that supports individual entrepreneur inRenovating single-family homes. TheCompany offers purpose-built technology and capital products that its members can use to source, analyze, and finance residential real property investments. TheApp includes property insights, data and education, as well as community information, paired with innovative capital solution.

SinceStart a private beta in2021: Members have used the app for approximately $2 billion in investment properties analysis. Additionally, Backflip CapitalIt has provided loans of tens of millions to its members to renovate and acquire homes.

TheInitial operation of the company in Dallas DenverHowever, it uses a distributed workforce model and has employees that span from New YorkTo Napa, CA.

FinSMEs

06/05/2022

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