With first-hand experience of the complexities involved in saving for a home, Landy Liu, the Foyer’s founder, intends to ease the process for potential homeowners. While working at Better.com, Liu observed the fears and challenges faced by first-time home buyers and spun it into a solution with Foyer. Today, Foyer has announced a $6.2M seed funding round, showing investor confidence in the platform.
Foyer functions as a dedicated savings portal for those saving up for their first home, effectively serving as a “homeownership 401k.” Aiming to fill a void in the market, the platform focuses on providing users with personalized guidance on strengthening their savings, understanding mortgage rates, and choosing the right real estate firm.
By subscribing to Foyer, users get access to exclusive resources along with the opportunity to network with real estate professionals. Moreover, the platform enables its users to garner rewards that can be used towards the purchase of a home. Liu comments, “We believe homeownership is a vital part of the American dream, so first-time homebuyers need all the assistance they can get.”
Given the current competitive and challenging environment in the real estate market, Foyer aims to equip home buyers with a better strategy for meeting their financial requirements. The funding it raised led by Alpaca VC and Hometeam Ventures, with Accion Venture Lab and Clocktower Ventures participating, will facilitate expanding the solution and enhancing its features.
Supporting the idea of Foyer, David Goldberg, a general partner at Alpaca VC, lauds its “reimagined approach to homeownership.” Liu echoes the sentiment, affirming, “Foyer is providing a solution for first-time homebuyers, a dedicated savings account that works for the next generation of homeowners.”
Original source: Read the full article on TechCrunch
