Currently, the homeownership startup operates in North Carolina, South Carolina, Tennessee, Georgia, Texas and Florida.

Homeownership startup Ribbon has raised $150 million, it was announced Tuesday. 

The company secured $75 million in Series C equity financing and $75 million in additional working capital. A Ribbon spokesperson declined to disclose the valuation at which the funding round was raised.

The funding round was led by Greenspring Associates with repeat participants including Greylock, Bain Capital Ventures, NFX, Nyca, Thomvest, and Jake Seid. 

Founded in 2017, Ribbon partners with real estate agents and lenders to purchases homes on behalf of their buyers with cash. The homeowners are then able to rent the home from Ribbon while they work to sell their old ones. Once the old home is sold, they are able to buy the home from Ribbon.

Ribbon has already seen exponential growth this year and supplied $1.5 billion to qualified home buyers last quarter, according to the announcement. 

“The historically low inventory of homes and hyper-competitive housing market has opened eyes: everyday buyers lose out on homes as affordability disappears, and other solutions for agents and lenders are insufficient to meet the moment. They all deserve better,” Shaival Shah, the Co-Founder and CEO of Ribbon, said in a statement. “Ribbon has become stronger by partnering with the ecosystem of agents and lenders — together we’ve empowered the consumer with best-in-class software and home financing solutions.” 

The new raised capital will aid Ribbon’s quest to expand to half of the U.S. by 2023. Currently, the company services customers in North Carolina, South Carolina, Tennessee, Georgia, Texas and Florida.

“In a moment when one third of home offers are cash, consumers have a competitive entry point with Ribbon’s novel ecosystem approach,” Seyonne Kang of Greenspring Associates said in a statement. “In the wake of Ribbon’s exponential growth, we are excited to partner as they grow their footprint in the United States, and help more people compete for — and realize — homeownership.”

Email Libertina Brandt

buyer's agent
Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×