Led · Debt Financing · Jun 2025

Waltz operates a digital, end-to-end platform that streamlines U.S. residential real estate financing for foreign national investors, handling LLC formation, bank accounts, currency exchange, underwriting and closings. The company combines banking and payments partners (Regent Bank, Synctera, Airwallex) with AI-enabled onboarding, underwriting and loan processing. Since its launch in July 2024, Waltz has processed more than $300 million in loan applications across four continents. Waltz partners with major brokerages such as RE/MAX and eXp Realty and sells loans to institutional buyers including Acra Lending and Atlas SP. The company is expanding across Latin America with a focus on Mexico, Brazil, Colombia and Argentina and is adding localized Spanish and Portuguese resources. Waltz is backed by investors including TLV Partners, Aleph and a set of angel investors. Waltz provides a comprehensive platform that guides non-U.S. investors through the U.S. real-estate purchase process, from property sourcing to entity setup and banking. The service issues an investor kit, handles identity verification, creates an LLC with an EIN, assigns an agent and a pre-approval letter, and opens a U.S. digital bank account to receive rental income and pay taxes. Waltz supports purchases in multiple states (Alabama, Florida, Georgia, Maryland, Minnesota, North Carolina, Ohio, South Carolina, Texas) and plans to add Arizona, with further expansion planned. The company reports more than $100 million in investor requests from early-access users and has closed transactions amounting to millions for customers from Israel, Chile, Colombia, Portugal, and others. Waltz cites a market of over $53 billion in annual U.S. real-estate purchases by non-U.S. citizens and operates with 24 employees, a development center in Tel Aviv, a business center in Miami, and additional staff in Europe and the U.S.

Participated · Debt Financing · Oct 2024

Founded in 2020, Backflip offers an all-in-one platform that combines deal-analysis software, market data and purpose-built financing products for residential real-estate investors. The company originates and services residential transition loans through its subsidiary Double Backflip, LLC, and recently formed Backflip Asset Management, LLC to manage loan assets in-house. By controlling origination, servicing and asset management, Backflip claims superior data integrity and a differentiated borrower experience. Its vertically integrated model has enabled the firm to tap institutional capital markets, most recently through an inaugural securitization, to lower its cost of funds and expand lending capacity. The platform supports entrepreneurs investing in single-family homes, thereby aiming to refresh housing supply in local communities. The new securitization structure provides up to $300 million of revolving lending capacity, positioning Backflip to scale nationwide. Backflip’s mobile app is available on iOS and Android, further extending its reach to individual investors.

Participated · Debt Financing · Nov 2023

Summer is a vacation-home technology startup that leverages data analytics and AI to predict short-term rental revenue and guide its members to purchase or monetize second homes. Through its membership model, users can choose gradual ownership, immediate ownership, or simply place an existing property on the Summer platform; the company then handles offer submission, closing paperwork, inspections, interior design, furnishing, and ongoing property management. For gradual buyers, an upfront payment starting at 15% of the home price and monthly membership fees are credited toward eventual purchase, while owners who already hold a property pay Summer for turnkey rental management. CEO and founder Paul Kromidas, formerly a product and strategy lead at Airbnb, claims Summer-managed homes generate higher yields thanks to national marketing and quick ramp-up times. The company aims to remove friction and risk from short-term rentals amid tightening regulations across various U.S. jurisdictions. Proceeds from its most recent financing will fund product R&D, market expansion, and brand building. Summer has raised roughly $30 million in total equity to date but has not disclosed customer counts or revenue figures.