Landed, a US-based mortgage finance provider that counts home improvement retailer Lowe’s as an investor, received $10.5m yesterday in a series A extension led by Omers Ventures.
Omers Ventures, the venture capital arm of pension fund manager Omers, was joined by Initialized Capital, the VC firm that was the only named investor in the round’s $7.5m first tranche in April 2019.
Founded in 2015, Landed offers help with down payments and financial education to essential professionals such as teachers in partnership with schools, universities and community organisations. It retrieves its equity investment when a customer’s home is sold.
Michael Yang, managing partner at Omers Ventures, is joining Landed’s board of directors in connection with the round, which it said took its total equity funding to a little over $22m, in addition to more than $50m in private equity raised for its down payment fund.
The company’s earlier investors include Lowe’s subsidiary Lowe’s Ventures, Ulu Ventures, Y Combinator and Clocktower Technology Ventures. It has not revealed the precise size of dates of its pre-series A financing.
