Hedge Fund Balyasny Asset Management Invests in Flyhomes
Posted on 06/20/2021
In June 2021, Seattle-based Flyhomes claims to have bought and sold more than US$ 2.6 million worth of homes since forming in 2016. In June 2021, Flyhomes raised US$ 150 million in a Series C round. Norwest Venture Partners and Battery Ventures led the round and was joined by investors including hedge fund Balyasny Asset Management, Fifth Wall, Trustbridge Partners, Camber Creek, Zillow co-founder Spencer Rascoff, Andreessen Horowitz, and Canvas Ventures.
Flyhomes is a maker of tech for home buying. Flyhomes aims to help its clients purchase houses directly with cash. The goal is to compete against cash buyers. Buyers secure a short-term loan from Flyhomes, which provides the cash until its clients finalize their mortgage.
Flyhomes seeks to use the new capital to expand in current cities Seattle, the San Francisco Bay Area, Los Angeles, San Diego, Portland, and Boston, as well as other cities.
