The seed round, led by venture capital firms Vertical Venture Partners and LiveOak Venture Partners, will help BackFlip grow its product development team and launch sooner in Texas and Colorado.
Brad Corona, managing Director at VVP, who joins BackFlip as a director, said in a news release: “Real estate entrepreneurs looking to finance ‘fix & flip’ and ‘rehab & rent’ projects overwhelmingly rely on private capital solutions rather than conventional residential lending products. The market for private capital is enormous, yet opaque, hard to navigate, and lacking an end-to-end, digitized consumer experience. The single-family residential investment sector is ripe for Backflip’s unique offering.”
