Taken from the October/November issue of HousingWire Magazine, Sundae aims to aggregate demand from “fix and flippers,” who use the marketplace to bid against each other for distressed properties.

Earlier this year, the company raised $16.55 million in Series A funding. QED Investors led the round, which also included participation from PayPal co-founder Peter Thiel’s Founders Fund, Susa Ventures, as well as a group of unnamed real estate and fintech investors and entrepreneurs. The financing brings San Francisco-based Sundae’s total raised to just over $19.7 million since its August 2018 inception, according to the company.