Wednesday, January 25, 2017

OfferPad Raises $260M

Gilbert, Arizona-based OfferPad, which operates an online service which provides instant home buying offers to homeowners, has raised $260M in a combined equity and debt funding. The funding is split between $30M in equity and $230M in debt, which is coming from LL Funds LLC. OfferPad was founded by Brian Bair and Jerry Coleman, and lets homeowners enter their address, and buys homes directly from homeowners looking to skip traditional real estate agents and sales. The company is currently operating in Phoenix, Las Vegas, Salt Lake City, Tampa Bay and Orlando. More information »