Flyhomes, a US-based end-to-end homebuying start-up has raised $150 Million in Series C round to accelerate its growth and expand its presence in India.
This round of funding was led by marquee venture capital firms like Battery Ventures and Norwest Venture Partners. Participation of Fifth Wall, Balyasny Asset Management, Camber Creek, and Zillow co-founder Spencer Rascoff was also seen. In addition, Andreessen Horowitz and Canvas Partners were other existing investors who participated.
As part of the deal, Roger Lee of Battery Ventures and Lisa Wu of Norwest Venture Partners will join the Flyhomes as a part of its Board of Directors. Launched in 2016 by Stephen Lane and Tushar Garg, Flyhomes has helped hundreds and thousands of customers close on $2.5 Billion worth of homes. In today’s market people looking to buy homes without all cash on hand are at a disadvantage, bidding and losing out on multiple prospective properties before finally closing down one deal. It has also eliminated the hassle of changing house twice by letting homebuyers shift into their new house before selling the old one.The new funding will also help the startup to scale service meet the outsized demand in the current markets of Los Angeles, Seattle, San Francisco Bay Area, among others.