Raising a $15 Million Series A.
In brief:
- Backflip, the all-in-one real estate and financial technology platform for real estate entrepreneurs, announced today its $15 million Series A led by FirstMark Capital, early investors in category-defining platforms Airbnb, Shopify, and Pinterest.
- The funding round comes after the company crossed $10 million in net revenue run rate – reaching near profitability. Backflip grew its revenue run rate 5x year-over-year in 2023 despite housing market headwinds, with members analyzing an average of $5 billion in properties each month on the platform.
- Backflip is driving the future of real estate entrepreneurship through an end-to-end platform serving a like-minded community. The company’s purpose-built technology and capital solutions enable members to efficiently manage their investment pipelines, secure funding, and grow their real estate investment business.
What does this mean?
“Backflip is not just about flipping houses; it's about flipping the script on the why, how and what it means to be a real estate entrepreneur,” said Backflip CEO Josh Ernst. “Over 400,000 homes are flipped every year in the U.S. and growing. Our mission is to help everyone access the funding and tools they need to participate. We put information, support, and capital products designed for entrepreneurs in the hands of more individuals in an industry that has historically had too many barriers to successfully starting and scaling. In doing so, we’re empowering our members to rejuvenate communities one modernized home at a time.”
