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Requity Homes

Requity Homes Raises $26M to Power Rent-to-Own Pipeline Across Canada

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A property technology firm based in Toronto today announced the closing of $26 million in equity and debt financing.

On a mission to make homeownership more accessible, Requity Homes secured capital from Highline Beta, Boardwalk Investment, Conconi Growth Partners, the Archangel Adrenaline Fund, and an array of angel investors—including financial services executive Mike Dobbins, who joins Requity’s board of directors. [Read more…] about Requity Homes Raises $26M to Power Rent-to-Own Pipeline Across Canada

Six Fintechs Helping Renters Become Homeowners in Canada

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While there is no shame in renting, especially given current market conditions, many Canadians nonetheless aspire toward homeownership.

Owning property can be fulfilling personally and financially, but the road to homeownership is long and arduous for some. [Read more…] about Six Fintechs Helping Renters Become Homeowners in Canada

Rent Reporting Platforms a Game-Changer for Tenants in Canada, Equifax Data Shows

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It is estimated that more than three million people aged 18-plus in Canada are “credit invisible,” according to Equifax, one of the largest consumer credit reporting agencies.

Being credit invisible means these individuals either do not have a credit file or the credit information on file is insufficient to generate credit scores, which can make life challenging. An additional seven million may have two or less credit accounts on their credit file, which is considered limited credit history—a “thin” credit file, according to Equifax. [Read more…] about Rent Reporting Platforms a Game-Changer for Tenants in Canada, Equifax Data Shows

Fintech Cadence Launches Latest Cohort of Innovate Financial Health Lab

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Montreal’s Fintech Cadence recently debuted the third cohort of Innovate Financial Health Lab, which assists fintech startups using technology to help improve the financial lives of underserved Canadians by making financial products and services more affordable. [Read more…] about Fintech Cadence Launches Latest Cohort of Innovate Financial Health Lab

Toronto’s Requity Homes Closes Seed Round to Expand Rent-to-Own Program

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Requity Homes has closed a $1.2 million pre-seed round of funding.

The Toronto-based real estate platform says the early financing will fuel its growth as the company scales its approach to creating an alternative path to home ownership in Canada.

The financing round was led by Boardwalk Investment with participation from Highline Beta, Conconi Growth Partners, and several angel investors. Founding partner of Highline Beta Ben Yoskovitz was appointed to Requity’s board of directors.

Requity Homes was founded in Toronto in 2020. The company operates a rent-to-own program that empowers Canadians to get one step closer to home ownership by allowing them to rent and save for their dream home with the option to purchase at a guaranteed price.

“Requity Homes is a new innovative way to help Canadians reduce barriers to home ownership,” said Sam Kolias, President of Boardwalk Investment Limited and CEO of Boardwalk REIT. “It allows investors to partner with home buyers, helping bridge the gap between renting and owning a home.”

Requity Homes offers a steppingstone to home ownership for families that are not mortgage ready today due to credit history, lack of down payment, or self-employment.

“With the rising cost of home ownership, it has become increasingly out of reach for many families,” said Amy Ding, CEO of Requity Homes. “At Requity Homes, we are offering a fair and flexible alternative path to home ownership by introducing more innovative financing options to an underserved market.”

Leveraging robust underwriting technology, Requity Homes can assess aspiring homebuyers’ future mortgage capability. When clients are ready, they can buy back the home at a predetermined price and become a proud homeowner. The program helps to bridge the gap between renting and owning by giving renters the price security and certainty to save towards ownership.

The program is currently available throughout Northern Ontario with plans to expand into Western Canada by end of 2022.