Overview

EasyKnock provides residential sale-leaseback solutions that allow homeowners to access the equity in their homes without needing a credit score or debt-to-income ratio. The company buys the client's home and leases it back to them, enabling clients to stay in their homes while receiving cash for various financial needs. EasyKnock generates revenue by charging rent to homeowners and benefits from any appreciation in the home's value. If the home appreciates during the lease, the client can choose to sell it and keep the profit. Additionally, EasyKnock covers certain home expenses like taxes and insurance, offering further financial relief. The transaction process is quick, typically taking 4-6 weeks from start to finish. EasyKnock's goal is to provide a flexible alternative to traditional home equity loans, making it easier for homeowners to access cash while remaining in their homes.

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Simplify's Take

What believers are saying

• Increased demand for alternative financing due to rising interest rates benefits EasyKnock.
• Growing interest in PropTech innovations aligns with EasyKnock's technology-driven solutions.
• Partnerships with platforms like FinLocker enhance customer value with financial health tools.

What critics are saying

• Legal challenges in Connecticut could lead to financial penalties and reputational damage.
• Closure of operations may result in unresolved customer service issues and legal claims.
• Reliance on debt financing poses financial risks if asset liquidation doesn't cover liabilities.

What makes EasyKnock unique

• EasyKnock offers sale-leaseback solutions without requiring credit scores or DTI ratios.
• The company covers home expenses like taxes and insurance, providing financial relief.
• EasyKnock allows homeowners to access equity without moving, offering flexibility.

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Funding

Total Funding

$125.7M

Below

Industry Average

Funded Over

5 Rounds

$28,000,000

Series D

Feb 2024

Series D funding is typically for companies that are already well-established but need more funding to continue their growth. This round is often used to stabilize the company or prepare for an IPO.

Series D Funding Comparison

Below Average

Industry standards

Ind Avg. $77M

$28M

$49M

$50M

$70M

$80M

$100M

View all funding stages