Splitero Funding Inc. provides homeowners with cash today in exchange for a share of their home's future value, allowing them to access their home equity without incurring new debt or monthly payments. This model addresses the issue of homeowners being asset-rich yet cash-poor, enabling them to fund personal projects, pay off debt, or manage emergencies while retaining ownership of their property.
Funding
$17.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
ACFounders
Product
Problem
Many homeowners are asset-rich but cash-poor, struggling to access the equity in their homes without incurring additional debt or monthly payments. Traditional options like home equity loans can be restrictive, creating financial burdens that homeowners seek to avoid.
Solution
Splitero offers homeowners a way to unlock their home equity by providing cash upfront in exchange for a share of the home's future value. This allows homeowners to access funds for various needs, such as paying off debt, funding renovations, or managing emergencies, without taking on new debt or facing monthly payments. Splitero partners with homeowners, sharing in the appreciation or depreciation of the home's value, aligning incentives to help homeowners maximize their homeownership experience.
Target Audience
Splitero targets homeowners seeking to access their home equity without incurring new debt or monthly payments, including those looking to fund personal projects, pay off debt, or manage emergencies.
Features
- Cash provided upfront in exchange for a share of the home's future value.
- No monthly payments or new debt incurred.
- Qualification based on home equity, without income or employment requirements.
- Repurchase option available anytime within the term.
- Aligned incentives, sharing in the appreciation or depreciation of the home's value.
- Funds can be used for any purpose, including debt payoff, renovations, or investments.