BOSTON, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Hometap, which provides a smart, new loan alternative for tapping into home equity without taking on debt, was named to the third annual CB Insights Fintech 250, a prestigious list of emerging private companies working on groundbreaking financial technology.
"It’s an honor to be named to the CB Insights Fintech 250 for the second time and to be recognized alongside such an innovative group of fintech companies,” said Jeffrey Glass, CEO of Hometap. “We set high goals for 2020, including continuing to enhance our world-class homeowner experience, expanding our geographic footprint across the U.S., and building out our partner network. It’s truly humbling to be recognized for all the work that has gone into making these goals a reality, especially during a year that has presented such unprecedented challenges for so many businesses.”
Hometap is expanding the home equity financing space, providing an alternative solution for homeowners looking to access the equity in their homes. Unlike a lender, Hometap makes investments in homes in exchange for a percentage of the future value of the property, providing homeowners debt-free cash today with no interest or monthly payments. In July, Hometap announced that it’s now making home equity investments in a total of twelve U.S. states, doubling the company’s state count since December 2019 and bringing its reach to approximately 57% percent of U.S. homeowners.
The CB Insights Intelligence Unit selected the Fintech 250 from a pool of 16,000 companies, including applicants and nominees, based on several factors, including patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
“We're proud to, once again, recognize the 250 best private fintech companies globally. This year's Fintech 250 represents 25 countries and spans 19 categories -- reimagining everything from retail banking and crypto, to insurance and asset management,” said CB Insights CEO Anand Sanwal. “The previous Fintech 250 class raised more than $22 billion in investor financing and saw more than 20 exits after being recognized, and we expect this year's class will have similar success as they continue to transform how people and businesses spend, save, borrow, and invest their money.”
To learn more about Hometap, visit www.hometap.com. For home financing insights and homeownership tips, visit the company’s What’s on Tap blog and subscribe to their newsletter at https://www.hometap.com/blog/.
About Hometap
Hometap is a smart new loan alternative for tapping into home equity without taking on debt. Homeowners receive debt-free cash by selling a percentage of the equity in their homes to Hometap. They can use the cash for anything, from paying off credit-card debt to starting a business to buying a second home. When the home sells or the homeowner settles the investment, Hometap is paid out an agreed-upon percentage of the sale price or current appraised value. Learn more at https://www.hometap.com/.
About CB Insights
At CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence company that synthesizes, analyzes and visualizes millions of documents to give our clients fast, fact-based insights. Serving the majority of the Fortune 100, we give companies the power to make better decisions, take control of their own future, and capitalize on change.
CONTACTS:
Rachel Keohan
+1 617-399-0604
rkeohan@hometap.com
Keith Swiader
keith.swiader@cbinsights.com