Combined company will be able to better serve constituents across the home buying and home selling journey
Home Captain, a financial technology company that streamlines communication between the homeowner and all other parties in the purchase or sale of a home, announced that it has acquired Redefy Holdings, Inc., a consumer-focused real estate technology company that is transforming the way people buy and sell residential real estate.
“We are extremely excited for the opportunity to have a proven market leader join us in our journey!” said Grant Moon, Chief Executive Officer of Home Captain. “The combining of the two companies greatly accelerates our roadmap in delivering unparalleled customer value in buying and selling a home particularly for mortgage banks and mortgage portfolio customers.”
Over 60% of all homes in the United States currently belong to a mortgage portfolio. Banks and financial firms that own these mortgage portfolios face significant financial run-off when people sell their homes; many homeowners that sell their homes buy a new house but do not arrange a mortgage with their original lender. Mortgage servicers have historically struggled with retaining customers who sell their home and purchase a new home.
Through the acquisition, Home Captain can now provide customizable programs to banks and mortgage servicers that allow their customers to sell and buy a home through a proprietary “pick your path” real estate experience. This results in an improved customer experience, significant cost savings, and increased brand loyalty to the lending institution. Ultimately, this will reduce run off and increase customer retention.
“We at Redefy are elated to be joining the Home Captain team!” said Chris Rediger, Chief Executive Officer of Redefy. “The blending of our two companies will add another element to Home Captain’s already impressive technology stack. Together, we aim to improve the real estate transaction for not only home buyers and sellers but also for real estate agents, lenders, insurance providers and title companies.”
“Home Captain and Redefy are incredibly complementary organizations,” said Raymond Wong, Managing Director and Head of the Growth Equity Group at Spring Mountain Capital. “We are excited to now back a combined company that is able to drive significantly more value to all constituents across the home buying and home selling journey.”