Ribbon provides a homeownership platform that allows real estate agents and lenders to design winning cash offers that empower everyday homebuyers while ensuring sellers on-time closings. The company says over 100 brokerage and lender partners have created Ribbon-powered cash experiences, growing to a network of 20,000 agents and loan officers. Those partners are creating about $600 million in home offers each month through the platform. Ribbon is led by CEO Shaival Shah and was founded in 2017, operating from NYC and Charlotte, NC. The company plans to use the new funding to accelerate expansion into new states. Ribbon has also upsized its credit facility to support growth and operations. Ribbon, founded in 2017 and led by CEO Shaival Shah, provides all-cash, guaranteed-to-close "Ribbon Offers" that enable buyers to present cash offers and secure homes quickly. Buyers are pre-approved and home valuations are completed within 24 hours; if a buyer cannot close with a mortgage on time, Ribbon will buy and reserve the home and lease it to them for up to six months. The company has released products for new home construction companies, buyers using Conventional, FHA and VA loans, real estate agents and lenders. Ribbon currently operates in eight markets across four states — Charlotte, Raleigh, Nashville, Atlanta, Charleston, Greenville, Memphis and Knoxville — and has about 60 full-time staff. It plans to expand coverage to 20 markets across ten states by the end of 2020. Ribbon recently secured $330M in combined equity and debt financing to fund market expansion and accelerate product development. Ribbon is a one-year-old startup that provides a 'Ribbon Offer' to reduce the timing risk in home purchases. Under the Ribbon Offer, if a buyer cannot secure a mortgage in time for closing, Ribbon will purchase the house itself and give the buyer additional time to obtain financing. The product is positioned to remove the biggest stress of the home-buying process: securing mortgage financing on schedule. According to the article, the company has raised $225M. The article does not report other operating metrics or financing instrument details.

Total raised

$705M

Funding rounds

5

Latest round

Debt Financing

Latest activity

Sep 2021