REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
Businesswire | May 16, 2023
Enumerate (the “Company”), the leading provider of software and payment solutions to communities, homeowners associations (“HOAs”) and other vertical markets, today announced its rebrand after a previous growth equity investment from Great Hill Partners, a private equity firm that invests in high-growth, disruptive companies. The Company’s core products, TOPS Software (accounting) and Nabr Network (engagement), will operate under the new name Enumerate moving forward. Enumerate will be led by Charlie Piper, a software industry veteran and former Great Hill portfolio company executive. Great Hill invested growth capital into Enumerate’s predecessor company, TOPS Software, in July 2021 and executed the acquisition of Nabr Network in February 2022.
Enumerate’s technology will bring together the best in accounting, operations, payments, resident engagement, and financial services in one easy-to-use and integrated platform. The investment from Great Hill will enable Enumerate to accelerate its growth plans and further enhance its product roadmap to better serve customers.
“We are thrilled to partner with Great Hill as we embark on the next phase of our growth journey as a newly-launched company,” said Mr. Piper. “Combining the collective 70+ years of industry and product knowledge that we bring together, Enumerate is well-positioned to continue innovating on behalf of our customers. Furthermore, Great Hill’s deep experience scaling technology businesses will be invaluable to our transformation as we bring new solutions to market to deliver even greater value for our customers.”
“In fragmented markets poorly served by point solutions, we believe Enumerate is uniquely positioned as the accounting system of record to deliver an integrated payments and software offering. Opportunities exist on both sides of the accounting ledger, accounts receivable (money in) and accounts payable (money out). We look forward to providing the support and resources required to capitalize on this large and under-penetrated opportunity across our core markets,” said Joe Germanese, Principal at Great Hill.
Since its inception, Great Hill has developed a deep track record in the payments and software sectors with over 20 investments in the category. In addition to Enumerate, Great Hill Partners’ portfolio includes One Inc, Versapay, Paytronix, Vanco, NMI, BlueSnap, and more. Prior investments include Affinipay, Accelerated Payment Technologies, BillMatrix, ChromeRiver, MineralTree, and PayChoice, among others.
Enumerate is the leading provider of community association management software and payments solutions that reduce administrative tasks by over 75% for property management companies and self-managed associations. With tens of thousands of communities and millions of homes managed, Enumerate empowers community association management organizations by digitizing and optimizing their accounting processes, operational workflows, AR & AP payments, and resident engagement. As a result, they can scale business and community growth and operations, improve homeowner and board satisfaction, maximize ROI, and transform the financial reconciliation processes. Enumerate exists to make community management easier. Want to see how? Learn more at www.goenumerate.com.
About Great Hill Partners
Founded in 1998, Great Hill Partners is a private equity firm targeting investments of $100 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. With offices in Boston and London, Great Hill has raised over $12 billion of commitments and invested in more than 95 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill has been recognized for its industry leadership, being ranked #3 in the 2022 HEC Paris-Dow Jones Mid-Market Buyout Performance Ranking, which evaluated fund performance of 563 leading private equity firms between 2009-2018.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Businesswire | May 09, 2023
EasyKnock, the first technology-enabled residential sale-leaseback platform, today announced its acquisition of Ribbon, a pioneer of powerbuying and cash offer solutions. The transaction is a major milestone for the real estate industry, bringing together homebuying, homeselling, and agent solutions into one unified and simplified experience.
“We are thrilled to bring Ribbon and EasyKnock’s cutting edge financial products together under one roof to provide more options and a competitive advantage to consumers and industry partners nation-wide,” said Jarred Kessler, CEO and co-founder of EasyKnock. “This marks the beginning of a new wave of innovation in the real estate sector, the advent of PropTech 3.0. By combining these product suites and offering solutions for every stop along the homeownership journey, we are better positioned to responsibly empower more families with the financial flexibility and control they need to achieve their goals.”
In bringing the teams together, EasyKnock is accelerating the development of its marketplace planned to launch later this year; a new, more fulsome suite of products and services that will offer consumers alternative ways to buy and sell, finance new homes, and utilize their equity in one place. Recognizing that a new way is needed, the marketplace will benefit everyday Americans with convenience, cost savings, and the competitive edge afforded by the combination of multiple services, positively impacting not only existing and prospective homeowners, but the industry altogether.
“Making homeownership achievable has been Ribbon’s mission and guiding light since its inception. EasyKnock and Ribbon share a vision of enhancing consumer choice in the industry, facilitating its success and enabling a more simplified buying and selling experience.” said Shaival Shah, CEO and co-founder of Ribbon. “We are thrilled to come together with EasyKnock and their pioneering sale-leaseback offering to provide solutions to more and more people. Combined with Ribbon’s award-winning homebuying solutions and network of 90,000 agents and lenders, we are motivated to empower consumers across the country.”
Both EasyKnock and Ribbon have forged strong partnerships in residential real estate by using best-in–class technology that connects consumers with loan officers, real estate agents, and other participants in the homebuying and home selling experience. Following the acquisition, the EasyKnock and Ribbon teams will work with strategic partners to bring their expanded product suite to key markets with an eye towards national expansion.
Goodwin Proctor, a global law firm, acted as legal advisor and Temple View Capital, a Bethesda, Maryland-based business purpose lender, provided financing on the transaction. Terms were not disclosed.
EasyKnock is the first-to-market, technology-enabled residential sale-leaseback company in the U.S. Through innovative and accessible solutions, American homeowners who sell their property to EasyKnock can remain in their homes as renters while still getting the cash they need to pursue their financial goals. Headquartered in New York City and founded in 2016, EasyKnock has team members nationwide working to help homeowners unlock their financial freedom through non-loan programs so they can pay off debts, buy their dream home, fund a venture, and more - all while maintaining the ability to stay in their homes and communities. For more information, please visit www.easyknock.com.
Founded in 2017 in New York and Charlotte, Ribbon is on a mission to make homeownership achievable. Ribbon allows everyday families to compete on a level playing field with high-net-worth individuals and institutional buyers by upgrading their offers to winning RibbonCash Offers. As the leading real estate technology platform, Ribbon empowers agents, brokerages, and lenders to create a world-class experience for homebuyers and sellers through powerful financial products and digital workflow software.
REAL ESTATE TECHNOLOGY, MORTGAGE AND LENDING
Globenewswire | May 19, 2023
Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) ("Voxtur" or the "Company"), a North American technology company creating a more transparent and accessible real estate lending ecosystem, is pleased to announce the signing of an exclusive platform agreement with The Mortgage Collaborative (“TMC”), America’s largest independent cooperative network for the mortgage industry that includes both community banks and non-bank lenders. Voxtur will make available to over 250 TMC members its complete digital ecosystem to support the mortgage lifecycle. More specifically, Voxtur’s mortgage asset trading platform, Blue Water, will deliver a software-as-a-service (SaaS) solution to facilitate the purchase and sale of mortgage assets, including first mortgage agency whole loans, mortgage servicing rights, second liens, and non-QM mortgages. The Blue Water platform facilitates pricing, trading, reviewing, transferring, and funding of mortgage assets and portfolios in the secondary market.
“This is a tremendous opportunity for Voxtur, TMC, and its members,” said Gary Yeoman, CEO of Voxtur. “Our mortgage asset trading platform is built to deliver high volume trading and create efficient liquidity. We have successfully deployed similar platforms and I am confident that TMC and its members will realize value.”
As the market recovers, lenders need increased revenue and liquidity. For mid to small sized lenders with small servicing portfolios, operational friction and high costs result in reduced investor demand and opportunities. Further, smaller portfolios command lower proceeds which naturally disadvantages many originators and prohibits optimum liquidity. TMC can now provide its members with the most sophisticated, efficient, and unique platform for trading asset portfolios of any size. Blue Water’s all-digital trading solution verifies critical loan data, conducts a high-level review of underwriting and investor eligibility, and offers real-time exception remediation management to minimize underwriting risk and avoid costly rep and warrant claims. Blue Water’s data transfer application does not use sampling, but instead verifies every loan file, and does so at an attractive price point.
“This is a compelling use case for our members, and I expect that we will see meaningful adoption," said David Kittle, Chairman of TMC. "These have been difficult times for so many of our members and this type of platform will provide tremendous value to support them in driving revenue and solving for liquidity needs at scale.”
The Blue Water-TMC platform is expected to go live within the next few weeks with a soft-launch at the Mortgage Bankers Association Secondary and Capital Markets Conference and Expo in New York early next week.
About The Mortgage Collaborative
Based in San Diego, California, the Mortgage Collaborative was founded in 2013 to empower mortgage lenders across the country with better financial execution, reduced costs, enhanced expertise and improved compliance, as well as helping members access the dynamic and changing consumer base in America. The cooperative is managed by its founding members, John Robbins, CMB; David Kittle, CMB; Gary Acosta, CEO of the National Association of Hispanic Real Estate Professionals (NAHREP); and Jim Park, former chair of the Asian Real Estate Association of America (AREAA). Robbins and Kittle are former chairmen of the Mortgage Bankers Association of America.
Voxtur is a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. The Company offers targeted data analytics to simplify tax solutions, property valuation and settlement services throughout the lending lifecycle for investors, lenders, government agencies and servicers. Voxtur's proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios and evaluate tax assessments. The Company serves the property lending and property tax sectors, both public and private, in the United States and Canada.