Houwzer, an end-to-end real estate brokerage and homeownership technology platform powered by proprietary technology recently raised $118 million in Series B financing. The funding includes $18 million in equity and a $100 million warehouse line of credit that will enable the launch of three new consumer products
Houwzer will introduce Cash Advantage, Convenience Offers, and Buy Before You Sell to help clients remain competitive in the most difficult housing climate in history.
“Mortgage, appraisal, and sale and settlement contingencies can often kill deals in the current housing frenzy, so these products will give Houwzer buyers a material advantage with their cash offer,” said Houwzer CEO, Mike Maher. “They’ll also give sellers the confidence to shop for their next home before selling their current home, thanks to a flexible, cash offer in-hand.”
This funding round will enable the company to further expand within its six MSAs across seven states and add key executives . The round was led by Edison Partners and brings Houwzer’s total equity funding to $35 million since its 2015 inception.
Houwzer built their brokerage model around the customer, creating a one-stop shop for real estate, mortgage, title, and escrow services that simplifies the process of buying and selling homes. They offer a $5,000 flat-fee listing model, while still providing a full-service experience via technology and tools, using salaried agents and mortgage advisors.
“This funding round further cements our innovative approach in creating a new model for residential real estate,” said Maher. “Our vision is to reimagine homeownership for good, making it affordable, fast, and fun so buyers and sellers can maximize their next chapter. We’re simply a better, smarter way for consumers to buy and sell homes, and people are starting to catch on.”
Houwzer currently operates in seven states, Houwzer services the Greater Philadelphia region, the Washington, D.C. beltway, the Greater Maryland region, and the Orlando, Tampa, and Jacksonville markets.
Edison Partners also led Houwzer’s $9.5 million Series A raise in 2020. Series B follow-on investors include Admiral Capital Group, GOPhilly, and Ben Franklin Technology Partners.