International real estate brokerage The Real Brokerage Inc. announced that it signed an agreement to acquire LemonBrew Lending Corp.
LemonBrew Lending is a tech-enabled home loan platform, licensed to provide a full suite of mortgage services across 20 states in the U.S. including Texas, California, and Florida.
The company currently operates as a mortgage brokerage, serving as an intermediary between borrowers and lenders.
Additionally, LemonBrew Lending is licensed as a lender in certain states, positioning Real with the option to expand its mortgage platform as long-term strategic needs for the business evolve. As part of the acquisition, CEO of LemonBrew Lending, Samir Dedhia, along with 25 other employees will move to Real.
Real is shelling out $1,250,000 for LemonBrew, a mix of cash and common shares.