External | what does this mean?
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Home equity startup fraction Technologies raises C$289 million in debt and equity financing 11 February 2021
Source: Fraction Technologies Fraction Technologies Inc. ( Fraction ), is announcing that it has raised C$289 million in a combination of equity and debt financing from Impression Ventures, Primetime Partners, Global Founders Capital, and Panache Ventures, among others. It will use this funding to launch in Canada, expand its team and technology platform, and prepare for its launch in the U.S.
Fraction Technologies announces $289 million CAD in debt, equity financing as it looks to disrupt reverse mortgages
Vancouver-based startup Fraction Technologies on Wednesday announced $289 million CAD in a mix of equity and debt financing.
Fraction is a startup at the intersection of FinTech and Proptech, focused on providing what it calls “socially conscious financial solutions.”
With the announcement of its funding, Fraction is coming out of “stealth mode” with the launch of its initial product, the Fraction Appreciation Mortgage, which allows customers to convert up to 40 percent of their home equity into tax-free cash.
“The Fraction team impressed us with their breadth and depth of experience in lending.”