Leading home equity investment originator can provide more homeowners access to equity
SAN DIEGO, Oct. 17, 2024 /PRNewswire-PRWeb/ -- Splitero, the financial technology company that provides homeowners better options to access their home equity, announced today that it has a $300 million strategic investment from funds managed by Antarctica Capital.
This announcement comes at a time of record home equity. U.S. homeowners collectively hold $11.5 trillion* of accessible home equity. Splitero is making it easier than ever to access that equity by providing homeowners with a lump sum of cash in exchange for a share of their home's future value. These Home Equity Investments (HEIs) allow homeowners to use their home equity to better their lives by paying off debt, renovating a home, or using their equity to achieve their financial goals without selling their home or refinancing a low-interest rate mortgage.
Splitero's innovative Maturity Match™ aligns homeowners' HEI term length with their senior mortgage timeline so they don't have to repurchase their HEI option before paying off their mortgage. Homeowners can repurchase anytime within their term without penalty, giving them the flexibility to repurchase at their convenience.
"This partnership and access to committed funding will allow Splitero to provide even more homeowners access to their home equity," said Splitero Founder and CEO Michael Gifford. "Antarctica Capital provides Splitero with the capital and support to significantly scale our business."
Chandra Patel, Managing Partner of Antarctica Capital, added "Americans have substantial trapped equity in their homes. Splitero provides a means to access this equity in a financially prudent manner is a critical need for many Americans today. We are strongly committed to working with high-quality originators such as Splitero, with whom we can execute our HEDI™ funding program. Splitero is a fast-growing and innovative company with a strong and experienced leadership team."
*According to data from ICE Mortgage Monitor.
About Splitero
Splitero is a financial technology company that provides homeowners better options to access their home equity. Founded by real estate veterans, Splitero provides a lump sum of cash in exchange for a share of the home's future value. Splitero can help homeowners in California, Colorado, Oregon, Utah, and Washington access their equity with no additional monthly payments or new debt. For more information, visit www.splitero.com.
About Antarctica Capital
Antarctica Capital is an alternative asset investment firm headquartered in New York with over $3.6 billion in assets under management. Antarctica's investment focus is on private markets, credit and real assets within our target sectors and the creation of permanent capital vehicles to leverage this investment focus. Antarctica's long-term capital, in conjunction with its vertically integrated asset management and investment platforms, uniquely positions the firm to maximize long-term value for both investors and portfolio companies. For more information about Antarctica Capital, visit https://antarcticacapital.com.
Media Contact
Jennifer Avrhami, Pitch Public Relations, 1 602-885-5366, [email protected], www.pitchpublicrelations.com
SOURCE Splitero
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