Fintech company unlocking real estate wealth for everyone
DALLAS--(BUSINESS WIRE)-- Nada, a fintech company making real estate wealth accessible to everyone through its investing, banking, and finance platform, announced today that it has closed a $8.1M seed round. LiveOak Venture Partners led the round with participation from Revolution’s Rise of the Rest Seed Fund, Capital Factory, 7BC Venture Capital, Sweater Ventures, LFG Ventures, Badra Capital, and Stonks Fund. Nada intends to use the funds to expand its investment products, develop its secondary trading platform, launch its mobile app, and release the first real estate-backed debit card.
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John Green, Co-founder and CEO (Photo: Business Wire)
In the three years since its founding, Nada has delivered financial solutions that have powerful benefits for both real estate investors and homeowners. The company is transforming the way people invest in real estate by providing access to opportunities that were previously only available to accredited investors. For the first time ever, retail investors can buy and sell shares of a top city, for as little as $250, on the platform by investing in Nada’s “Cityfunds” investment product. This product is an index-like real estate fund providing targeted exposure to a single city’s home equity market. Homeowners can access their home equity to spend on the Nada debit card without the encumbrances associated with adding new debt. With the combination of these solutions, everyone can start building real estate wealth on the Nada platform starting with opening a free account. In conjunction with the funding, Krishna Srinivasan, LiveOak’s founding partner, is joining Nada’s board of directors. Additionally, Jesse Stein, co-founder of Everyrealm, a metaverse investment and development company, will be joining Nada’s board of directors to support scaling investment products.
Nada is powered by a diverse group of talented and purpose-driven people who believe everyone deserves access to real estate wealth. Co-founder and CEO, John Green, spent his 20s as a full-time touring & recording punk rocker before leading strategy and risk in the mortgage industry at companies such as JP Morgan Chase, Washington Mutual, and Pacific Union Financial. Co-founder and CFO, Mauricio Delgado, dropped out of Stanford to start his first company at 19. He returned to finish his degree in Computer Science and subsequently earned his MBA there before launching a career spanning Wall Street to CEO of an auto fintech company.
“Homeowners cannot access home equity without being burdened with more debt and individual investors lack access to real estate investment products,” said John Green, co-founder and CEO of Nada. “Nada’s business model solves both these problems by bringing liquidity to homeowners and real estate access to all investors. Krishna and the LiveOak team are unique given their roles as the lead investors in numerous proptech + fintech leaders such as Homeward, OJO, Opcity, Backflip and others. Partnering with them will enable us to leverage their expertise and relationships and help us fully realize our vision of reimagining how everyone can both unlock and further build their real estate wealth.”
Enabled by Nada's proprietary regulatory-compliant and SEC-qualified framework, the company has already demonstrated impressive growth with transactions consummated by over 1,500 users, 3 Cityfund public offerings, and a waitlist of over $300M in homeowner equity on their platform. While the democratization of alternative assets is becoming more mainstream, Nada is well-positioned to be the sector leader in unlocking real estate wealth for its users.
“Democratizing access to real estate for investors while enabling homeowners to unlock the intrinsic value in home equity using debit cards is a complex problem that sits at the confluence of many large opportunities. The founders bring an uncommon combination of specialized skills around mortgage, specialty lending, regulatory compliance, and technology and possess boundless grit and vision to address this ambitious endeavor. We were blown away by the significant thought and infrastructure that has already been put in place in this regard and look forward to the partnership to building an enormous company,” said Krishna Srinivasan, founding partner of LiveOak Venture Partners and board member at Nada.
Nada is unlocking the $26 trillion home equity market for retail investors and homeowners. Its platform makes it possible for any investor to buy & sell fractions of a top city’s real estate market and for homeowners to unlock home equity, without taking on debt, to spend on a debit card. Fractionalizing homeownership and leveling the playing field for retail investors with the first banking and investing platform built for real estate. Nada is backed by LiveOak Venture Partners, Revolution’s Rise of the Rest Seed Fund, Capital Factory Ventures, 7BC Venture Capital, and Sweater Ventures.
About LiveOak Venture Partners
LiveOak Venture Partners is a venture capital fund based in Austin, Texas. With over 20 years of successful venture investing in Texas, the founders of LiveOak have helped create nearly $5 billion of enterprise value. While almost all LiveOak's investments begin in the early stages, LiveOak is a full life cycle investor focused on technology and technology-enabled service companies based in Texas. With close to $500M under management, LiveOak Venture Partners has been the lead investor in over 50 exciting high-growth Texas-based companies in the last ten years including ones such as DISCO (NYSE: LAW), Digital Pharmacist, Eventus, OJO Labs, Opcity, Homeward, and TrustRadius.
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Source: LiveOak Venture Partners