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HousingWire Annual Virtual Summit

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FintechInvestmentsMortgageReal Estate

Fresh off expanding into mortgages, Reali raises millions to continue growing

Real estate startup recently acquired online mortgage lender Lenda

Just a few weeks ago, Reali, a flat-fee real estate startup that operates in California, expanded into mortgage lending when it bought Lenda, an online mortgage lender that launched in 2013 and currently operates in 12 states.

The company made that purchase using some of the $20 million it raised last year in its Series B round, which came a year after the company raised approximately $10 million. The company said it planned to use that money to expand.

And it appears the company has no plans of slowing down, as this week, Reali announced that it raised $9 million more in a Series B2 funding round.

According to the company, the B2 financing round was led by Group 11, along with existing investors Zeev Ventures and Signia Ventures.

The company said that it plans to use this new funding to continue growing both its real estate and mortgage businesses, along with expanding into new real estate areas as well.

“Since its inception, Reali has focused on creating a seamless, innovative and superior customer experience during one of the most stressful moments in life – buying and selling a home, at a fraction of the cost,” said Amit Haller, co-founder and CEO of Reali. "We’re thrilled with this ongoing investor support which allows us to continue our momentum while introducing additional services such as escrow and title, home warranties and insurance, to name a few.”

The company has seen tremendous growth in the last year alone, with the company more than tripling its transaction volume and growing its headcount by nearly 40%.

The company also plans to continue increasing its headcount. According to the company, Reali is “actively recruiting key hires” in product, engineering, real estate, and marketing in both the U.S. and Israel.

That continued growth is what drew in Group 11 as investors, according to Dovi Frances, managing partner at Group 11.

“At Group 11, we are always on the lookout for financial technology companies that solve a real problem and bring innovation to massive sectors ripe for solutions, Frances said. “Reali’s solution and their incredible growth to date further demonstrate their team’s determination to streamline the unnecessarily complicated real estate process while saving consumers thousands of dollars in fees and commissions. Thus, we are truly excited to lead this financing round and look forward to joining Reali's team efforts to grow the company into the market leader it is ought to become.”

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