$57M funding round from QED Investors to accelerate hiring, market expansion, and single-family rental platform upgrades
OAKLAND, Calif., Sept. 16, 2021 (GLOBE NEWSWIRE) — Mynd, the company transforming how single-family rental investors find, finance, rent, manage, and sell their properties, today announced a deal with fintech venture capital firm QED Investors. The partnership will enable Mynd to enhance and scale the digital offerings of its one-stop-shop proptech platform, setting a new bar for the customer experience of both owners and renters.
Mynd is unlocking limitless opportunities for Americans to become active real estate investors, with an emphasis on remote residential investing. Mynd customers can select and purchase rental properties anywhere in the United States, overseeing them 100 percent online.
Currently, Mynd manages 9,000+ rental units in 25 markets across the country, serving the $3.4-trillion-dollar single-family rental and build-for-rent sectors. Build-for-rent homes present a tremendous opportunity to introduce more affordable quality housing to areas with shortages.
With this $57.3 million dollar financing round, led by QED, Mynd will continue upgrading its integrated investing platform. Powered by an extensive proprietary data set, Mynd will enhance automated workflow engine, underwriting, mobile applications, and omnichannel communications to better service owners, renters, and vendors. In addition, the company will accelerate hiring efforts and market expansion.
“Partnering with QED enables us to learn from successful brands in the fintech space and marry their honed go-to-market strategies with our first-mover advantage and real estate experience,” said Doug Brien, co-founder and CEO of Mynd. “Our goal has always been to make real estate investing accessible and convenient for all, and now we’ll have some of the brightest minds in financial services helping us make that happen.”
QED has a proven track record for investing in fintech companies that create frictionless digital experiences for their customers. Their portfolio of brands includes Credit Karma, GetGround, HouseCanary, Klarna, Nubank and SoFi.
“Mynd is redefining who can and should be a real estate investor, and how they manage those investments. Their easy-to-use technology will quite literally open doors to a new generation of savvy property owners and trustworthy residents,” said QED partner Chuckie Reddy. “We’re looking forward to reshaping the American dream of homeownership together, unlocking the opportunity for more individuals and families to take advantage of the single-family rental asset class in their financial planning.”
This latest financing round comes on the heels of Mynd’s June 2021 partnership with Invesco Real Estate, a $40 million financing round plus $5 billion commitment to purchase and lease 20,000 single-family homes through Mynd over the next three years. The backing of QED Investors and institutional partners like Invesco, which has $1.525 trillion under management, positions Mynd to be the most well-capitalized and leading investment platform in the single-family rental industry.
To learn more about how Mynd helps families and institutions build wealth through residential real estate investing, visit www.mynd.co.
Mynd democratizes access to real estate investing by combining deep technology and industry expertise to provide a revolutionary, institutional-grade platform that enables anyone to buy, manage or sell Single Family Rental (SFR) properties across the United States. Headquartered in Oakland, California, Mynd currently manages over 9000 units in 25 markets. Mynd is rallying the next generation of investors, unlocking the ability to participate in the real estate economy in new ways, scaling ownership and building generational wealth.