Landis Technologies, the US-based operator of a rent-to-buy model for homes, completed a $165m series A debt and equity round yesterday featuring entertainment management agency Roc Nation’s venture capital arm, Arrive.
Venture capital firm Sequoia Capital led the round, which was also backed by actor Will Smith’s investment vehicle, Dreamers VC, in addition to VC firm Signia Venture Partners.
Founded in 2018, Landis operates a model where it buys homes it rents out to clients looking to buy. They then save to reach a mortgage while being able to live in the house in the meantime.
Arrive’s co-founder and president, Neil Sirni, said: “We believe that Landis is determined to build a company that consumers can trust. Our investment demonstrates our commitment to supporting Landis on their mission to make the path to homeownership more accessible, transparent and empowering.”
Signia Venture Partners led the company’s $2m seed round in 2018, participating alongside Red Swan Ventures, Graph Ventures, Kima Ventures and angel investors including Joel Peterson.
Landis added $15m in debt financing from undisclosed investors in August 2019 before joining Reach, the scale-up initiative run by Second Century Ventures, the investment arm of the National Association of Realtors, in April this year.
