Residential sale-leaseback platform EasyKnock has acquired home equity investment platform Balance Homes, the company announced on Tuesday.
The latest acquisition comes on the heels of a series of other proptech startup purchases. Last May, EasyKnock gobbled up Ribbon, a power buyer firm, and in September, it acquired home maintenance platform Onder.
The terms of Balance Homes’ acquisition were not disclosed.
With this new integration, EasyKnock aims to provide homeowners with additional options to convert their home equity into cash.
“This acquisition is the next step on EasyKnock’s clear path to lead the industry as the first platform to offer customers alternative solutions to buy and sell, finance new homes and utilize their equity in one place,” Jarred Kessler, CEO and founder of EasyKnock said in a statement.
In addition, Balance Homes CEO and co-founder Judd Schoenholtz will become EasyKnock’s chief revenue officer (CRO), while the other co-founder Aaron LaRue, will become chief technology officer (CTO).
“We are thrilled to bring Balance Homes’ unique co-ownership product, technology and team into EasyKnock,” Schoenholtz said. “EasyKnock and Balance Homes share the vision of empowering American homeowners, providing new innovative solutions to access their equity, and together, we can help more homeowners.”
EasyKnock received $57 million in venture capital in February 2022. Investors included Blumberg Capital, Gaingels, Moderne Ventures, QED Investors, Viola FinTech, and Zillow founder, Spencer Rascoff’s venture firm 75 & Sunny.
