Affordable housing will always be a sector needing constant innovation and insight. PadSplit knows this and is working towards ending the affordable housing crisis in the US. The platform offers a marketplace of available shared housing opportunities for low-income house hunters.
The Atlanta-based site has just ended a Series A funding round where it secured $10 million, bringing the total number of funding raised to $14.6 million.
Arjan Schütte, Founder and Managing Partner of Core Innovation Capital, which led the round, said:
“We’re proud to support Atticus and the PadSplit team as they expand into new markets and introduce critical housing supply at a time when so many require affordable housing.”
PadSplit offers affordable, dorm-like spaces with furnished, private bedrooms and shared public living areas, like dens and kitchens.
The company plans to use the capital to secure its placement in new markets, further support its presence in Houston, and spread to more markets in the near future.