Dallas, Texas-based fintech company Nada raised USD 8.1 million in recent funding. The seed round took place on July 27, 2022. LiveOak Venture Partners led the financing for the firm.
Meanwhile, Revolution’s Rise of the Rest Seed Fund, Capital Factory, 7BC Venture Capital, Sweater Ventures, LFG Ventures, Badra Capital, and Stonks Fund participated in the funding. As a part of the deal, Krishna Srinivasan, LiveOak’s founding partner, and Jesse Stein, co-founder of Everyrealm, will join Nada’s board of directors.
Purpose of funding for Nada
With the latest capital infusion, the fintech platform seeks to expand its investment products. Meanwhile, Nada aims to develop its secondary trading platform. The company also intends to launch its mobile app.
Moreover, Nada’s focus is to release the first real estate-backed debit card. It will enable homeowners to access their home equity and spend it via the card.
What the founder has to say
John Green, co-founder and CEO of Nada, said, “Homeowners cannot access home equity without being burdened with more debt, and individual investors lack access to real estate investment products. Nada’s business model solves both these problems by bringing liquidity to homeowners and real estate access to all investors. Krishna and the LiveOak team are unique, given their roles as the lead investors in numerous proptech + fintech leaders such as Homeward, OJO, Opcity, Backflip and others. Partnering with them will enable us to leverage their expertise and relationships and help us fully realize our vision of reimagining how everyone can both unlock and further build their real estate wealth.”
What the investor has to say
Krishna Srinivasan, the founding partner of LiveOak Venture Partners and board member at Nada, said, “Democratizing access to real estate for investors while enabling homeowners to unlock the intrinsic value in home equity using debit cards is a complex problem that sits at the confluence of many large opportunities. The founders bring an uncommon combination of specialized skills around mortgage, speciality lending, regulatory compliance, and technology and possess boundless grit and vision to address this ambitious endeavour. We were blown away by the significant thought and infrastructure that has already been put in place in this regard and look forward to the partnership to building an enormous company.”
Nada, the Dallas-based fintech company, makes real estate wealth accessible to everyone through its investing, banking, and finance platform. CEO John Green and CFO Mauricio Delgado launched the company in 2019. The company aims to unlock USD 26 trillion home equity market for retail investors and homeowners.
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