Roofstock, a startup that allows investors to buy and sell single-family rental homes online has received funding from SVB Capital, the venture capital arm of Silicon Valley Bank, and property investor Asia Pacific Land Ltd.
The property portal said that the two new strategic investors had joined a $35 million fundraising round announced in October, increasing the total raised to $42 million. Existing investors also contributed extra funding, it said.
Roofstock said it had surpassed more than $1 billion in property transactions on its platform since its inception.
Launched in early 2016, Roofstock runs an online marketplace where retail and institutional investors can buy and sell homes in the United States occupied by renters. It also identifies local property managers to help new owners manage the homes.
It is among the cohort of startups that are using technology to simplify and expand access to real estate investing. Its investors include venture capital firms Canvas Ventures, Bain Capital Ventures and Khosla Ventures.
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Join us in Bangkok from the 28th of February to the 1st of March for the 22nd Property Portal Watch Conference. The theme for this year is The Future of Online Real Estate Marketing – Getting Closer to the Transaction.
