We raised a Series B to help more Americans become homeowners

Today, I’m thrilled to announce that we’ve raised $40 million in Series B funding. This round of financing demonstrates further confidence in Landis and allows us to scale our efforts to make homeownership more accessible.

With the support of our new investor, GV, along with many of our existing investors, including Sequoia and Jay Z’s Roc Nation, we have the opportunity to open doors for the millions of people who have been left out of the American dream of homeownership.

From moving our first client’s furniture into her new home to navigating the many obstacles of the COVID-19 pandemic, to today, with rapidly rising mortgage rates, inflation, and home price volatility, our clients have relied on us to be their partners and advocates.

Why this matters

The housing challenge is not new. The mortgage industry was designed to serve people who meet a strict checklist of criteria. But many people don’t have a life or set of circumstances that fit into a perfect box. At Landis, we believe that homeownership should be attainable regardless of your circumstances.

Landis serves those who have been excluded by traditional financial solutions and helps them on their path to homeownership. With pre-set home buyback prices and personalized coaching, we’re providing clients the certainty they need in an uncertain market. Landis gives more people the opportunity to own their home and build a more stable financial future for themselves and generations to come. With the wealth gap between renters and homeowners in America at 40x and growing, our mission is more critical than ever.

Where we’ve been

A lot has happened since we raised our Series A last year:

  • Applications to our program have increased 7x in the last year, further proving how much Landis is needed in today’s market.
  • We’ve grown our team 3x, with a strong focus on keeping the company lean while hiring incredibly talented people who “walk our clients home” every day.
  • We’ve shipped dozens of products that improve the lives of our team, clients, and partners.

Where we’re going

Landis is doubling down on what we’ve accomplished — at a much greater scale. We’re showing that it is possible to design a financial system that works for people, not against them.

  • With our new funding, we will go deeper in the markets we serve, continue to develop our technology to reach tens of thousands of clients every single month, and continue to buy even more homes on behalf of our clients so they have the time they need to get a mortgage.
  • While most companies are cutting budgets, we’re doubling down on investing in our clients at Landis. We’ve earmarked $2 million to expand our free coaching program, which pairs clients with one-on-one support tailored to their budget and needs. Our personal coaches provide actionable advice and motivation to clients as they raise their credit scores and build down payment savings to ultimately become homeowners.

Client Impact

We know homeownership changes lives — and every client’s life is different.

Like Jackie, who sought stability for her family of 6 and became a homeowner with us. In her words, “It felt like [Landis] really cared about me and my family.” Or Glynis, who wanted to leave a legacy for her children and grandchildren. She says: “Landis made me feel part of the whole process so I didn’t feel like a renter. I feel like this is my home.”

Arnita always dreamed of homeownership but never had the credit to qualify for a mortgage — until she met her Landis coach, Noah. “He was always available. I know I’m not the only one, but he made the time. He encouraged me and said ‘you’re not by yourself’.”

Jackie, Glynis, Arnita, and many other clients are the reason our team does what it does. Landis is designed to help families by meeting them where they are, supporting their journey, and providing the help they need to go further and reach homeownership. Rather than applying one broad playbook to every client, our homeownership coaches put together specific action steps designed for each client’s unique situation.

Now, we can’t wait to give more clients the support they deserve to help them reach their homeownership dreams.

Thank you!

Finally, we wouldn’t be where we are today without our clients, our partners, and our investors. Your help and feedback have helped us scale thoughtfully. We’re excited to continue paving the way for more Americans to become homeowners.

To our team — you have worked incredibly hard to make this happen. Well done to every single one of you. Your devotion to our mission, compassion for our clients and partners, and ability to tackle any challenge to make homeownership accessible are unparalleled. This is your success, and we’re just getting started. Together, we’re building a category-defining company and transforming the financial future of our clients.

— Cyril