Ribbon has raised $225 million, funding the mortgage technology startup’s national expansion. It received the funding from existing investors Bain Capital Ventures, Greylock, NFX and NYCA.

Ribbon will be expanding into 10 new markets by the end of 2019 and has already expanded into Charlotte, Cary and Asheville, N.C., and recently into Fort Mill and Indian Land, S.C. The firm is focused on markets where homebuyers are having the hardest time securing homes and where they face stiff local competition from investors and corporate buyers.

Ribbon backs homebuyers and their realtors with the power of a Ribbon Offer, which is all-cash, and guaranteed to close. Buyer affordability and home valuations are fully approved, same day, making the offer experience fast, transparent and predictable. If a homebuyer can't close with a mortgage on time, Ribbon will buy and reserve the home on behalf of the homebuyer. It backs  valuations by committing to buy the home up to the Ribbon Max Value, or appraised value.

With Ribbon, homebuyers have greater than a 90% chance of having their offer accepted, saving thousands of dollars in cash discounts and receiving a 100% ontime closing.

"If you are a first-time homebuyer or you need to sell your existing home prior to buying a new home, the current homebuying process is an intimidating and stressful experience," said Shaival Shah, CEO of Ribbon. "We solve this problem by buying and reserving a home for a family, so they can secure their mortgage in peace without the risk of losing the home they love.”