Curbio Raises $65 Million to Expand its National Fix First, Pay-at-Closing Home Improvement Solution for Realtors and Brokers.

Curbio is the top pay-at-closing home renovation option for real estate agents and clients in the United States. With its streamlined approach to home remodelling, the company was founded in 2017 to transform having homes move-in ready.

Fremont, CA: Curbio, Inc., the leading pay-at-closing home repair solution for real estate agents, brokerages, and property sellers, announced today a $65 million Series B fundraising round to support further expansion in the underserved market for fix-first, pay-at-closing home renovation. Since its inception in late 2017, Curbio has raised $93 million. Curbio is the first tech-enabled home repair solution designed to quickly bring homes on the market for top dollar, with no payments necessary until the house sells.

The funding will be utilized to expand into other areas and further improve Curbio's proprietary technology, including the growth of their invitation-only work platform for the country's five-star contractors, which will be led by Revolution Growth, a D.C.-based venture capital firm. Existing investors Camber Creek, Comcast Ventures, Brick & Mortar Ventures, Second Century Ventures, the National Association of Realtors®, and new investors Kayne Partners, Kayne Anderson Capital Advisors' growth private equity group, and Masco Ventures, participated in the round.

"Curbio is drastically changing an outdated, broken process to benefit agents, home sellers, and subcontractors. Revolution Growth is leading an incredible collection of investors with experience in PropTech, marketplaces, and developing disruptive firms, and we're excited to have them on board. They'll be vital to Curbio as we shake up an industry worth $85 billion that hasn't seen true innovation in decades "Curbio's CEO, Rick Rudman, stated.

Curbio is transforming the home renovation customer experience with patented technology. Curbio's platform and app make it simple to get quotes, schedule labour and materials, follow project schedules, receive visual updates, and interact in real-time from any location and on any device.

Remodelling to appeal to modern house buyers adds a layer of logistical complications, guesswork, and stress to one of life's most complicated financial transactions: selling a property. Instead, Curbio enables any agent or brokerage to provide fix-it-now, pay-it-later services — a turnkey solution with no project minimums or credit checks. As a result, Curbio is grabbing an immense, previously untapped opportunity as the dominant one-stop solution for pay-at-closing residential home repair.

"The home restoration market is vast, and Curbio's wheelhouse with pre-sale upgrades accounts for a substantial chunk of that investment," said Patrick Conroy, a partner at Revolution Growth. He is joining the company's board of directors. "Curbio's tech-enabled solution targets a key mismatch in the US housing market: more than 80% of homes are over 15 years old, and more than half of new buyers are millennials looking for modern layouts and finishes. Curbio fills in the gaps for house buyers while also ensuring that sellers get the maximum money for their property as quickly as possible. We're excited to help Curbio become a household name in the PropTech industry."

 

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