BURLINGAME, CA, Tech-enabled home renovation company Freemodel today announced it has secured a $19.5 million Series A investment.
The round was led by QED Investors, a leading venture capital firm in the fintech and proptech sector, in partnership with LL Funds, a leading provider of both growth equity and asset-backed debt. Other participants in the most recent round of funding include RWT Horizons, FJ Labs, 1984 Ventures, 1Sharpe Ventures, and Crossbeam Venture Partners. With this latest investment, Freemodel has now raised over $23 million since launching in 2020.
Freemodel was founded in 2020 with a mission to streamline and improve the residential real estate sale process while giving homeowners a chance to get the maximum possible upside from the sale of their homes. The company partners with real estate agents to design, manage and pre-pay for their clients' home renovations, then the homeowner pays Freemodel out of escrow once the home sells. Founded by two Silicon Valley veterans with software and residential real estate backgrounds, Freemodel differentiates itself by offering a team of local designers and project managers who act as the main on-site point of contact for agents and clients. Their Project Directors bring deep expertise and local knowledge of the regions they service, making the process easier and more turnkey for realtors and sellers. In addition, Freemodel requires no credit checks and has no pre-determined project budget caps, allowing more flexibility for homeowners to reap the maximum possible profit from their investment. For more information, visit http://www.freemodel.com.
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