Unlock Technologies Gears Up to Meet Growing Demand for Home Equity Agreements as American Financial Struggles Worsen

Unlock expands to new states and makes key leadership hires as American homeowners increasingly look to use equity over debt

TEMPE, Ariz., March 26, 2025 /PRNewswire/ -- Unlock Technologies (Unlock), a leading fintech company transforming the homeownership experience, has unveiled a new study that shows how critically Americans are struggling financially. According to Unlock's Q1 2025 study, 51% of American homeowners are not prepared to handle an unexpected $500 bill, revealing an alarming trend of financial hardship and economic pessimism in the country.

"Financial distress can be debilitating for Americans in today's extremely challenging macroeconomic environment. Our goal at Unlock is to help homeowners by providing actionable and widely available solutions to financial challenges," said Jim Riccitelli, CEO and co-founder of Unlock. "Home equity agreements can be a very attractive alternative for many American families. They can obtain the cash needed to address financial issues without going further into debt and without any monthly payment requirements. They can use the cash to solve a problem quickly and then have the breathing room needed to regain their financial footing going forward."

An Unlock home equity agreement (HEA) gives homeowners cash in exchange for a portion of their home's future value – cash they can utilize on life-impacting events like unexpected medical bills, job loss, preventing foreclosure, college tuition, home repairs or paying down credit card debt. With nearly 1 in 10 (9%) homeowners planning on pulling equity out of their home in 2025, an HEA is valuable option for homeowners, giving them the ability to access cash without any monthly payments.

With a milestone of over 12,000 homeowners served, Unlock continues its rapid expansion, now operating in four new states: Kentucky, New Mexico, Ohio and Nevada. This momentum is further fueled by the addition of over 100 employees in the last six months, the opening of a new corporate office in Tempe, Arizona, and office expansion in Troy, Michigan.

To help lead the company through its next phase of growth, Unlock has hired:

Aaron Traub, Head of Product
Aaron was Chief Product Officer at Biz2Credit and Biz2X, and held senior roles at JP Morgan's Digital Markets business and Morgan Stanley's User Experience team. He was also Co-founder of HuddleHR and Head of User Experience at Colonial Life. 

Eliot Bass, Head of Data
Eliot was Head of Data at Ever/Body, Principal Consultant at Redesign Health, and an Investment Analyst at Accomplice VC. He led data operations at Orchard through its Series B, C and D raises, and $1B+ unicorn status.

Stephanie Nordstrom, Head of Brand 
Stephanie held senior brand and marketing leadership roles at Amazon, Chime and Fender, as well as planning and strategy positions at top agencies including MWWPR, Zeno and Real Chemistry.

"We're thrilled Unlock is continuing to grow to meet the growing need for HEAs, and we're so excited to welcome these three exceptional leaders to the Unlock team," said Paul Tucker, COO of Unlock. "Their expertise in product, brand and data are instrumental to both accelerating our growth and solidifying our position as the market leader in home equity solutions. Our customers expect a best-in-class experience, and these individuals position us to empower even more homeowners."

To further underscore Unlock's commitment to growth, the team is expanding on the heels of a Series B funding round in September 2024 that included a $30 million investment by D2 Asset Management.

With the addition of the four new states, Unlock operates in 17 states across the United States, with three more on the way in early Q2.

About Unlock Technologies
Founded in 2020, Unlock Technologies is a Tempe, Arizona-based financial technology company providing products and services that help consumers solve financial challenges and improve their financial health. The company's flagship product is its home equity agreement, a financing option for homeowners who want to access the equity they have built in their homes without taking out a loan.

Media contact: Michael Micheletti, [email protected], 415-359-6985

SOURCE Unlock Technologies