Landis, a startup that uses technology and data science to help renters reach homeownership, has closed on a $165 million fundraising round, made up of debt and Series A equity financing. This latest funding brings Landis’ total debt and equity raised to $182 million since the company’s launch.
Led by Sequoia Capital, the Series A round also included participation from Arrive, a Roc Nation company, Will Smith’s Dreamers VC as well as existing investor Signia Venture Partners.
Founded by Cyril Berdugo and Tom Petit, Landis is a social impact-driven company with a mission to guide renters on their unique path to purchasing a home.
The company has opened up access to its Landis Homeownership Coach mobile app to everyone with an iPhone. The free app provides its users with a dashboard view of credit, down payment savings and debt, alongside the specific goals they need to reach to get a mortgage. The app also suggests actions that users can take to advance on their journey towards homeownership.
“What makes Landis unique is our ability to coach anyone to homeownership. This new funding will allow us to help more Americans on their path to homeownership by expanding to new states, hiring talent nationwide and providing a better experience to our clients and partner agents and lenders,” Berdugo said.
“We understand that people can fall on tough times, but no one should be locked out of homeownership forever. Whatever their situation, we give our clients easy, achievable steps to become eligible for a mortgage. Getting ready for a mortgage is often a stressful and difficult process. Landis makes it easy, fun and approachable,” Petit said.