Requity Homes operates a rent-to-own program that lets aspiring buyers live in a home while saving for a down payment and retain an option to purchase at a guaranteed price. The program couples rent reporting and credit coaching to help newcomers, self-employed workers, and others qualify for mortgages. Since its founding in 2020 the company has received thousands of applications and reported 5x year-over-year growth. Management says 80% of customers have bought back their homes in an average of 18 months. Requity Homes currently serves Northern Ontario (Sudbury, North Bay, Sault Ste. Marie and Thunder Bay), Saskatchewan (Saskatoon, Regina), Alberta (Calgary, Edmonton) and Manitoba (Winnipeg). The company plans to use new financing to extend its reach across target markets in Ontario, Alberta, Manitoba, and Saskatchewan. Requity Homes operates a tech-enabled rent-to-own platform that purchases homes upfront so aspiring buyers can live in their dream home while saving toward a down payment and later buy back at a predetermined price. The company leverages underwriting technology to assess future mortgage capability and serves families who are not mortgage-ready due to credit history, lack of down payment, or self-employment. Founded in 2020, Requity has been helping families in Northern Ontario since 2021, with availability in Sudbury, North Bay, Sault Ste. Marie and Thunder Bay. It plans to expand into Western Canada by summer 2022. Requity will use recent funding to accelerate development of its platform and to hire across technology, marketing and operations roles. Early client examples highlight its role as a steppingstone to home ownership for people who may qualify for a mortgage in the next two to three years.

Total raised

$27M

Funding rounds

3

Latest round

Equity

Latest activity

Jan 2024