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Palo Alto based home equity financing company Point has raised $8.4m in Series A funding led by Andreessen Horowitz, who also led the company's seed round in 2015. Point has now raised $15.4m in total funding.
Alex Rampell, general partner at Andreessen Horowitz, has taken a board seat at Point. Andreessen Horowitz was joined by the company’s earlier backers Ribbit Capital and Bloomberg Beta. Individual angel investors include Orogen Group CEO Vikram S. Pandit, Airbnb CFO Laurence Tosi, LendingHome founder/CEO Matt Humphrey, and Invitation Home’s co-founder Brad Greiwe. “Point is fundamentally transforming the home equity financing landscape,” said Point CEO and co-founder Eddie Lim. “Homeowners can now access their home equity wealth without a loan, without monthly payments, and without a fixed interest rate. This is a truly revolutionary product that aligns the investors and homeowners in a way we haven’t seen before. There’s $18 trillion of US residential real estate equity wealth that is locked up. We want to put that wealth to productive use.”
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