San Francisco based Landed.com has secured $10.5 million in Series A funding to continue its mission to make housing more affordable for essential workers in expensive areas. The capital came from OMERS Ventures as well as from existing investors Initialized Capital and brings the amount raised from venture capital firms to over $22 million in addition to around $50 million in private equity real estate capital.
The company’s mission is to make housing more affordable for key workers (starting with educators) in expensive areas. The business model works by offering to contribute to home-buyer down payments and then making the money back when the house is eventually sold or the home-buyer chooses to buy out the investment. The company has been widely praised for its vision and has received extensive coverage in the national press in the United States.