18 May, 2022, 09:00 ET
The milestone signals strong growth and momentum
SAN FRANCISCO, May 18, 2022 /PRNewswire/ -- Kiavi, a leading provider of financing to real estate investors (REIs), today announced it has surpassed funding $10 billion in loans to its REI customers since its inception in 2013. Kiavi has helped REIs unlock over $4 billion in real estate value and funded over 46,000 projects (as of 3/31/2022). Kiavi operates in 29 states and the District of Columbia supporting real estate investors as they renovate and deliver move-in ready homes to families across the country.
"We are thrilled to reach these major milestones, which have only been possible with the support of our REI customers with whom we partner to modernize aging homes, make them move-in ready for millions of families, and help people live better through real estate," said Michael Bourque, CEO of Kiavi. "The U.S. is over 4 million housing units short of buyer demand and our customers are doing the incredible work of revitalizing America's aged homes. We have a long way to go but we are confident that with our technology and expertise we will further help our customers create an impact and unlock the full potential of their real estate investments."
"Kiavi has been a great partner for Horus Homes as we scale our business and continue to transform local communities. We are not surprised to see Kiavi reach these milestones in such a short period of time. Their technology platform and quick access to capital make it easier and efficient for REI's to scale, and gain competitive advantage in a marketplace when making offers on properties." said Lukas Vanagaitis, co-founder & CEO, Horus Homes.
According to a recent survey of REIs, one-third of respondents said they use technology to assist in locating and financing properties. Kiavi's technology helps make the lending process efficient, transparent and reliable. Through Kiavi's data, customers can get a more accurate prediction of a home's after-repair value, resulting in increasing their chances of a successful exit.
Kiavi was recently recognized on Inc. magazine's 2022 Best Workplaces list and won for the fifth consecutive year the 2022 HousingWire Tech100 Real Estate award recognizing the most innovative technology companies in the housing economy.
Kiavi uses the power of data and technology to bring lending for real estate investors into the digital age. Through Kiavi's digital platform, real estate investors are empowered to make smarter decisions, gain access to funding faster, and scale their business. Founded in 2013 Kiavi, formerly known as LendingHome, has grown to become one of the largest lenders to real estate investors in the United States. The company is committed to helping customers revitalize approximately $25 trillion worth of aged U.S. housing stock and provide move-in ready homes and rental housing for millions of Americans1 across the country. For more information, visit www.kiavi.com, and follow us on Twitter. NMLS ID #1125207
1 We define aged housing stock as homes over 30 years old from the original construction date. U.S. Census Bureau, American Housing Survey, 2019
SOURCE Kiavi Inc.
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