Fello Secures $25 Million to Expand Agent-Led iBuying Solution
CLEVELAND, June 28, 2022 (Newswire.com) - Fello, the first-agent-led iBuyer, announced today it has secured $25 million in a combination of debt and equity. This new funding will help Fello scale its mission of empowering all agents with an iBuying solution and providing home sellers with a seamless, trusted experience. The equity funding was led by Javelin Venture Partners with participation from Ben Rubenstein, founder of OpCity and former Realtor.com CRO.
"We believe people should be at the heart of real estate," said Ryan Young, Fello co-founder and CEO. Young comes from a family of agents and has run one of the country's highest-performing real estate teams for over a decade. "The future is a fully empowered agent with personalized options and local expertise."
With Fello's new platform, agents have the ability to provide every homeowner with an iBuying option while staying at the center of the relationship. The local agent stays in control of the sale, maintains the listing, and gets their full commission — every time.
"Having been a prop-tech investor and entrepreneur for decades, I've concluded that an agent-led iBuyer is the right solution for both home sellers and realtors," said Jed Katz of Javelin Venture Partners. "Selling a home is not solely transactional. People want a trusted, local expert to guide them through the experience. Yet, many sellers still want the convenience and optionality of selling their home instantly. Fello has created a model and very sophisticated technology that is the ideal solution for home sellers and agents alike."
Fello provides sellers and agents the best of both worlds. Homeowners can bring their trusted agents into the process and get a no-obligation, competitive cash offer in less than 24 hours. The process eliminates the uncertainty of showings or repairs and allows homeowners to sell more confidently. On the other hand, if a traditional listing is preferred, sellers can continue working with their agent or Fello can help find a perfect agent to help meet their goals.
"Having visibility into leading proptech trends," said Ben Rubenstein, "Fello has created a brand new category with agent-led iBuying. Similar to power buying, we see agent-led iBuying becoming a vital tool for agents to succeed in the coming years."
To learn more, go to hifello.com and say hello to a better home selling experience.
About Fello
Fello, formerly FlashHouse, was founded to make home selling easier for everyone. But the founding team of Ryan Young, Tom Schrader, and Stephen London knew a human element was missing. It was the local, trusted agent. People want both convenience and a trusted advisor. So Fello set out to create a hybrid experience that allows homeowners to bring their agents into the process and get a competitive cash offer. Fello is headquartered in Cleveland, Ohio. For more information, please visit hifello.com.
About Javelin Venture Partners
Javelin Venture Partners is a venture capital firm based in San Francisco, founded by former entrepreneurs who have firsthand experience developing companies from concept to thriving enterprise. Javelin invests in early-stage technology companies with large addressable markets and strong competitive advantages. The firm is an active investor with a long-term outlook, and is helping the next generation of founders build world-changing companies.
Media Contact:
Elizabeth Price
Elizabeth@hifello.com
216.306.3685
Source: Fello
