This is the Flyhomes pitch deck to raise a $150m series-c round in 2021.
About
Flyhomes is an end-to-end real estate brokerage and technology company that empowers home buyers, sellers, and agents to win. They are transforming the home buying experience through comprehensive consumer education, segmented expertise, financial innovation, and on-demand technology.
When buyers will do anything (like pay $1 million over asking price) to secure their dream home, anything that gives them a competitive edge helps.
Seattle-based Flyhomes, a startup that effectively turns borrowers into cash buyers, has just raised $150 million in fresh funding.
Flyhomes buys houses on behalf of its clients upfront with cash. Buyers then purchase the house with financing. With demand high, and 21% less homes on the market in 2021 than the year before, sellers have the luxury of opting for all-cash offers.
With this in mind, Flyhomes says its model makes buyers more competitive in the bidding process, since it effectively turns them into cash buyers. Usually, a buyer’s agent takes a small percentage fee from a home’s sellers as payment. Flyhomes performs a similar role, so makes money from this commission.
“We want to become the iconic brand for people buying houses,” CEO Tushar Garg said. “Currently the issue in a seller’s market is a lack of cash buyers so we solve that liquidity problem and take the experience to the next level for most of our customers.”
Founded in 2016, Flyhomes bought and sold more than $2.5 billion worth of homes to date and currently operates in areas including Oregon, California, and Massachusetts but wants to expand to Texas and other parts of the East Coast soon.
Flyhomes ‘s Series C investment round was co-led by Norwest and Battery Ventures, with additional participation from existing investors Andreessen Horowitz and Canvas Partners. The fundraise will go towards Flyhomes business with some debt used to support its homebuying operations.
“The real estate market is massive but is a space that hasn’t seen a lot of disruption,” Lisa Wu, partner at Norwest told Insider. “Real estate is in its early innings where there aren’t many consumer brands but Flyhomes is already a pioneer and first-mover advantage in this industry.”
Funding rounds
| Announced Date | Transaction Name | Number of Investors | Money Raised | Lead Investors |
| Jun 10, 2021 | Series C – Flyhomes | 8 | $150M |
Battery Ventures, Norwest Venture Partners
|
| Aug 15, 2019 | Debt Financing – Flyhomes | 1 | $120M | — |
| Aug 15, 2019 | Series B – Flyhomes | 2 | $21M | Canvas Ventures |
| May 31, 2018 | Series A – Flyhomes | 3 | $17M | Andreessen Horowitz |
| Oct 5, 2017 | Seed Round – Flyhomes | 3 | $2M | Mark Vadon |
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