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Knox Financial Bags $1.4M Seed Funding

       
BOSTON, MA, Fintech company that is making investment property ownership accessible and frictionless, has raised $1.4 million in seed funding.
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Knox Financial, a fintech company that is making investment property ownership accessible and frictionless, today announced that it has raised $1.4 million in seed funding and launched the Knox Frictionless Ownership Investment Platform to Boston area homeowners.

"From families who decide their home is no longer big enough to retirees who want to downsize, moving creates an incredible investment opportunity to turn a home into an income property. Unfortunately, many homeowners today don't even consider this option, or decide against it because of the complexities associated with setting up and running an income property," said David Friedman, CEO and co-founder of Knox Financial. "Knox is committed to making the transition to and ownership of income property frictionless, removing the barriers that can prevent homeowners from making an investment that the wealthiest individuals and people in the real estate business often pursue. "

According to Urban Institute, between 2007-2017 average home prices in Boston, Cambridge, and Somerville increased by 61 percent, 76 percent, and 89 percent, respectively. Starting today, Knox is offering an investment alternative for Boston-area homeowners who would typically sell their home when they move, allowing them to continue to build wealth and generate income from their properties without taking on the burdens of being a landlord.


The Knox Frictionless Ownership Investment Platform features:
Streamlined application process: Homeowners who would like to learn more about working with Knox can go to www.knoxfinancial.com and apply. Applicants can then schedule a no-strings consultation with a Knox home expert to evaluate their home's fitness as an income investment.
Frictionless income property conversion and ownership: For qualified homes, Knox provides Frictionless Ownership, a white-glove service that turns the home into an income property. The Knox team will visit applicants' homes to walk through the process, find the right insurance policy, manage all paperwork, and handle all property management and landlord responsibilities once the income property transition is complete, from advertising the unit for rent to managing rental payments and property upkeep.

Financing assistance for a new home: Knox works with each customer to find the proper financing solution for their needs, often allowing homeowners to keep the low interest mortgages they already enjoy. For people who are purchasing a new home as part of their move, Knox can facilitate a refinancing process to help secure the necessary down payment.

Distributions to homeowners: Once their home is enrolled in the Knox platform, homeowners become passive investors, receiving a distribution each quarter. Payment to a Knox customer is the difference of the rent paid by the tenant less the operating costs, which include mortgage, tax, and insurance payments, property management fees, and maintenance costs.


"When people choose the Knox Platform, not only will they have more flexibility in where and how they choose to move. They'll also be choosing an investment that will help balance their portfolios and have far greater returns than what they could get through traditional investment options," added Spencer Taylor, COO and co-founder of Knox Financial.

To validate the performance potential of Knox's proprietary approach for turning homes into income properties, Knox conducted a market study leveraging publicly available data from the Case-Schiller index of national home prices and historical performance of the S&P 500. The data shows that if an investment property could have been placed on the Knox Platform in 1998, today it would have produced a 369% greater return than the same investment made in the S&P 500. The white paper can be found here.

To learn more about Knox Financial, visit www.knoxfinancial.com.

About Knox Financial
The Knox Platform delivers frictionless homeownership, enabling flexible lifestyle choices and superior wealth creation. To learn more, visit www.knoxfinancial.com.
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