Rivonia Road Capital, a global alternative asset manager focused on credit for high growth companies, has provided $78 million in debt financing and participated in a $12 million equity raise for Accept.inc, a lender that empowers home buyers to submit all-cash offers on home purchases.
“Rivonia Road is proud to provide Accept.inc with non-dilutive capital for scaling its business and to participate in the recent equity raise,” said Rivonia Road Capital’s Co-founder and Managing Partner, Brad Smiedt. “In Accept.inc, we have found a partner who aligns with our belief that every American should have equal access to financial services. Accept.inc’s cash offer platform has seen skyrocketing growth since its 2019 launch in the Denver market. When combined with Accept.inc’s robust and scalable technology infrastructure, Rivonia Road’s capital will enable the company to meet the velocity and demand of today’s hyper-competitive housing market.”
Founded in 2016 by three entrepreneurs, the startup launched in the Denver market in 2019 after being accepted into the Y Combinator startup accelerator program and has boosted revenues by 14x in the last year.
The company has developed a technology-enabled platform and transaction engine that allows any mortgage-qualifying buyer to shop and transact for a home as an all-cash buyer by buying the home on their behalf and then selling it to them and carrying the mortgage.
“Accept.inc’s cash offer model brings speed and certainty to transacting that the market is thirsting for at this time,” said Adam Pollack, Accept.inc’s co-founder and CEO. “We are thrilled that Rivonia believed in our vision for creating the model to democratize all-cash offers.”