HomeLight buys fintech by cash offer Accept.inc

HomeLight agreed to acquire Accept.inc, a fintech lender specializing in cash-equivalent products.

The acquiring company, a real estate technology company with a financing transaction by pre-existing cash offerdid not disclose the exact terms of the all-stock deal.

The majority of the Accept.inc team will take on new roles within HomeLight as the two operations are combined, HomeLight CEO Drew Uher said in an email response to questions.

“With this acquisition, HomeLight is now not only the largest agent-focused cash offer program in California and Colorado, but also in the entire country,” Uher said, noting that its business in this area has seen 500% growth year over year. annual growth.

In addition to announcing the acquisition, HomeLight said Thursday it raised an additional $115 million in capital, including $60 million in Series D stock and $55 million in debt financing. Its total funding is now around $645 million and its valuation is $1.7 billion.

HomeLight’s backers include Zeev Ventures, Menlo Ventures, Group 11, Crosslink Capital, Bullpen Capital, Montage Ventures, STCAP, Citi Ventures and Google Ventures.

The acquisition of Accept.inc will be HomeLight’s third since 2019. It previously bought a digital mortgage lender eaves to start an in-house mortgage unit, and Disclosures.io, a listing management technology provider.

The HomeLight Cash offering has been structured so that it can immediately step in to temporarily purchase homes on behalf of a qualified borrower in competitive real estate markets, then passing title to consumer borrowers and converting the financing into a larger mortgage. typical.

“The cash offer has proven to be a powerful tool for homebuyers in a variety of situations, whether it’s afirst buyer in Houston, Texas; a retiree looking to grow in the highly competitive market of Phoenix, Arizona; a growing family looking for more space in Dallas, Texas; or a couple looking to compete with wealthy buyers flocking to Miami,” Uher said.

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