Dallas-based fintech Zippy has raised additional investment from Brand Foundry and repeat investors. The startup said the capital infusion will drive scalability and meet the growing demand for manufactured home loans.
As it celebrates its second year, Zippy’s growth trajectory positions it on a path to being one of the largest lenders in the manufactured housing industry, the company said. We told you about the impact Zippy has had in March.
Zippy’s CEO and co-founder Ben Halliday acknowledged the crucial role of early supporters in the company’s journey so far.
“We’re grateful to Wesley Gottesman and the Brand Foundry team for the support and commitment to Zippy’s mission from the beginning and betting on our vision and technology,” Halliday said in a statement. “None of these achievements would be possible without them [Brand Foundry and repeat investors], our customers, our team, and our Community Operator partners.”
Halliday, made it clear that he anticipates further growth for the company, adding, “We’re excited to continue working with some of the best community operators in the space as we continue expanding to reach more states and forging new partnerships.”
No financial details of the new investment were released.
Zippy President Jordan Bucy (left) with CEO Ben Halliday
Expanding opportunities for affordable homeownership
Brand Foundry Partner Wesley Gottesman said Zipply provides an “integral part of the equation to increase access to affordable housing.” In a statement, Gottesman pointed to the company’s role in empowering homebuyers with more competitive financing options, something he described as “democratizing access to homeownership.”
“Zippy’s relentless commitment to homebuyers and community operators, powered by their best-in-class technology, has positioned the company to be an anchor for the industry,” he said.
Earlier this year, Zippy announced a Series A investment from Nashville-based FirstBank, which partnered with Zippy to broaden opportunities for affordable homeownership and fulfill their shared mission to provide modern lending solutions for buyers of manufactured homes.
Since its launch, Zippy has cemented partnerships with renowned owner-operators of manufactured home communities, which has played a pivotal role in fueling the company’s exponential growth.
Zippy also announced the appointment of Jesse Field as vice president of sales. Field, formerly of TrueCar, brings decades of expertise in driving B2B2C growth and facilitating the transformation of businesses into publicly traded companies.
Zippy says its “industry-first” platform is at the core of the company’s success. [Image: Zippy]
Zippy’s digital borrower portal
Zippy said its industry-first, cutting-edge platform is at the core of the company’s success.
The company said this investment will help it build on the initial success of providing community partners the technology needed to offer competitive loans to homebuyers.
Via Zippy’s digital borrower portal, community home sellers can manage their customers’ loan progress in real-time, with the portal delivering new loan status updates, document requests, closing updates, and digital marketing tools. The company said that a similar experience for buyers offers a digital borrower portal, a loan officer guiding the process from start to finish, and a zippy-fast closing.
Zippy offers manufactured home loans in 17 states including Texas, Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Oregon, Kentucky, Michigan, Missouri, South Carolina, Virginia, and Wisconsin, with plans to be in more than half of the country by the end of the year.
“This investment will fuel Zippy’s expansion in both sales and engineering capabilities and allow us to expand our footprint across the country,” Jordan Bucy, Zippy co-founder & COO, said in a statement. “We’re excited to strengthen our presence and offerings to increase more opportunities for affordable housing as we march toward the immense opportunity in front of us.”
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R E A D N E X T
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With recent financing from FirstBank, the company's innovative solution—a digital lending platform for manufactured home loans—is available in 11 states, including Texas. Zippy plans to more than double its footprint in 2023 by establishing partnerships with hundreds of communities.
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