EquityLock Solutions Raises $5.7M
2011-09-29
Initial round of fundraising led by TTV Capital and Gleacher and Company.
DENVER, CO, Real estate professionals and financial firms are coming forward to support EquityLock Solutions' Home Price Protection offering, which provides home owners with certain protections against future declines in their home market.
Since launching Home Price Protection in May, EquityLock Solutions has cemented relationships with RE/MAX International, Keller Williams Realty and Real Living; homebuilders Stonecrest Homes and Pardee Homes; and a syndicate of investors. 200,000 real estate agents are being certified to introduce Home Price Protection to homebuyers, sellers and builders. After adding Home Price Protection to its new homes, Stonecrest Homes realized an increase in sales within two weeks. Pardee Homes is adding Home Price Protection to selected homes in selected communities.
Earlier this month, EquityLock Solutions raised $5.7 million in an initial round of fundraising led by TTV Capital and Gleacher & Company. The capital, combined with EquityLock Solutions' expanding network of relationships, will permit the company to accelerate the expansion of its business and deliver its unique services to a broader range of clients.
"Not only do we have a solid base of real estate professionals and builders in place to distribute Home Price Protection, but we have the capital to help us deploy our business model on a larger scale," said EquityLock Solutions CEO and Founder TJ Agresti. "Our goal is to help turn around the housing market by providing current and future homeowners with the comfort of knowing their investment will be protected from future housing-market declines of up to 20 percent."
The White House and federal housing agencies have been looking for private sector ideas to address the depression afflicting the housing industry. With a housing market that may be too large for a federal program to fix, privately funded solutions like those offered by EquityLock Solutions may be the boon the industry needs.
"It does not matter how low interest rates go - people do not buy homes when they are afraid of losing value in their biggest investment. Any solution to the housing problem must address Americans' lack of confidence in home values, which is exactly what Home Price Protection does," Agresti said. "We believe this is what the federal government needs: a privately-funded solution to a key component of the housing market slump."
About EquityLock Solutions
EquityLock Solutions gives home owners confidence that their largest asset will be protected from future housing market declines of up to 20 percent. Faith and confidence in housing allows for the stabilization of the market and a better night's sleep for all Americans who share the dream of home ownership. The company's vision is to help turn around the current U.S. housing industry by restoring faith and confidence in real estate values. EquityLock Solutions is led by an executive team with many decades of collective experience in real estate, mortgage lending, insurance, tax and law. For more information, please visit http://www.equitylocksolutions.com.
About TTV Capital
TTV Capital was founded in 2000 as one of the few venture firms focused exclusively on investing in technology-enabled financial services companies. Its partners have over 100 years of collective experience working with and building technology-enabled financial services business. For more information about TTV Capital, please visit ttvcapital.com.
About Gleacher & Company
Gleacher & Company, Inc. (Nasdaq: GLCH) is an independent investment bank that provides corporate and institutional clients with strategic and financial advisory services, including merger and acquisition, restructuring, recapitalization, and strategic alternative analysis, as well as capital raising, research based investment analysis, and securities brokerage services, and through a new subsidiary, engages in residential mortgage lending. For more information, please visit http://www.gleacher.com.
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