Noah secures $150 million to fund a mission to transform home equity financing and help struggling homeowners

SAN FRANCISCO–(BUSINESS WIRE)–Noah, a modern finance company redefining the way homeowners access their home equity, today announced it has secured an additional $150 million to fund equity sharing deals for owners. The company has grown rapidly since securing its Series A funding from Union Square Ventures in 2019. This latest investment demonstrates confidence in Noah’s home equity sharing model, as it democratizes homeowners’ access to their most valuable asset – the wealth trapped in their homes. .

Noah recently rebuilt its technology platform from the ground up to provide owners with faster and easier pre-qualification to meet their immediate financial needs. By simply answering three simple questions – the property’s address, the debt balance on the home, and the owner’s credit rating – Noah can pre-qualify homeowners for financing in under two minutes. From there, owners who want to move forward with the process can submit their application using Noah’s Client Portal, which helps the company get a holistic view of each owner. From start to finish, Noah is able to distribute the funds in as little as 15 days.

“We view our proprietary partners as more than just a credit score – our model leverages 80 billion data points across over 60 different variables to gain a holistic understanding of every investment. This approach is a game-changer for investors , as it gives them access to a historically stable asset class and a long-term growth opportunity to invest in equities rather than debt,” said Rahul Parulekar, Chief Investment Officer. commitment of our investors to help advance the aspirations of American homeowners.”

Noah’s Equity Sharing Arrangements represent a real estate financing solution tailored to homeowners and are an innovative approach that Noah’s new backers believe in. Noah will use the $150 million capital to continue to provide more homeowners with upfront, payment-free financing, and in return, share a percentage of the home’s future appreciation or depreciation. Especially in this time of financial turmoil, when millions of Americans are forced to add to their debt or dip into their emergency funds to make monthly payments, Noah immediately puts money in the pockets of homeowners.

“In this state of financial uncertainty, we are encouraged by our latest capital investment as it strengthens our ability to continue to partner with owners and help them access immediate funds,” said Sahil Gupta, Founder of Noah . “Unlike traditional financial institutions, Noah is able to obtain a full financial profile from our owner partners and provide them with financing – even if they are facing unemployment or reduced income. Owners have come to us then that they had nowhere to go and it is important that we continue to develop long-term partnerships, even in times of economic uncertainty.

Noah is actively recruiting to help support and evolve its product offerings. The company will expand its product offering in East Coast markets in the second quarter of 2020.

About Noah

Noah is a modern finance company that helps homeowners leverage the value of their home to meet their financial goals without incurring new monthly payments or interest. Founded in 2016 and based in San Francisco, Noah’s innovative equity model is a debt-free alternative to traditional home loans and HELOCs. By partnering with homeowners, Noah offers homeowners in select US metropolitan areas upfront financing in exchange for a percentage share of their home’s future appreciation or depreciation. Noah’s investors include Union Square Ventures, Breega Capital and Techstars Ventures. For more information, visit www.noah.co.

Carol M. Barragan