Nada bridges homeowners and investors through home equity via its Cityfunds and Homeshares products. The company's new president and CEO, Tore Steen, replaces Nada Co-Founder and current CEO John Green, who will transition to COO.
Green is the former leader singer of a punk rock band, who toured the world and put out two albums in his early twenties. But now he's taking the stage in a different way—by leading his startup Nada into the $27 trillion home equity market.
Nada's Cityfunds enable people to invest in single-family rental homes and fractionally invest in owner-occupied homes in Dallas, Austin, and Miami. With the new funding, Nada plans to expand Cityfunds to six new cities, grow its Oak Lawn-based staff to around 60, and develop a home equity-accessing debit card.
“We fundamentally believe that we can make a material difference to people's lives by making real estate as an asset more accessible,” co-founder and CEO John Green told Dallas Innovates.
The startup's new digs in Oak Lawn will give it room to grow its workforce from 15 to around 50 by end of year. Enabling people to invest in single-family rental homes and fractionally invest in owner-occupied homes, Nada has attracted over $2 million from investors into its Cityfunds in Dallas, Austin, and Miami. Now it's expanding to Houston and other cities, launching a debit card, and expecting new funding soon.
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