Trading Up Homes Is a Pain. This Startup Wants to Make It Easier
- FlyHomes starts service that’ll guarantee price for old home
- Company raised $141 million more in debt, equity for expansion
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FlyHomes pioneered a way to help homebuyers make cash offers, giving them an edge in competitive housing markets like Seattle and San Jose. Now that bidding wars are abating in those pricey metros, the company is promoting a new service -- and announcing a fresh round of capital to make it happen.
The four-year-old Seattle startup said Thursday that it had raised $141 million in debt and equity that it’ll use, in part, to support the growth of a business that targets people trading up to more expensive homes. Clients who use FlyHomes as a broker to buy a new house will get a guarantee that their old one will sell at an agreed upon price within 90 days. If it doesn’t, the startup will buy the property.