company announcements or real estate industry news

Backflip Secures $15M Led by Firstmark to Revolutionize House Flipping

Apr 29, 2024, 02:31 PM

Backflip, a new startup, has successfully raised $15 million in Series A funding to support real estate investors in flipping houses. The funding round was led by Firstmark Capital and aims to modernize and rejuvenate communities across the country. Backflip's innovative platform is described as a cross between Zillow and Shopify, offering unique financing options to make the house flipping process less complicated and more accessible to smaller investors. The company's approach has been praised for its potential to transform the way real estate investment is done, particularly in addressing the structural lack of supply of single-family homes.