San Francisco based real estate financing startup Landed has raised $5m in Series A funding led by Chan Zuckerberg Initiative. Landed aims to help educators and other school workers achieve financing for homes in their expensive Bay Area school districts.
Meanwhile, Landed makes its money by taking a cut of the standard referral fee earned by real estate agents that it connects to the educators buying homes, who don’t pay any extra to use Landed. The goal is to allow more educators, administrators, janitors, and more to live near their jobs at Redwood City, Ravenswood City, and Sequoia Union high schools, where Silicon Valley’s tech boom has made home prices otherwise out of reach of these critical community members. CZI posted on Facebook that “More broadly, our hope is that our partnership with Landed will help create a sustainable model to help make homeownership a reality for more educators and others at risk of getting priced out of the communities they serve.”