A well-known homeownership benefit is the ability to convert a property’s equity into cash. However, challenging economic conditions and high interest rates can make it difficult for many United States homeowners to obtain and make payments on a home equity loan, leaving the home’s equity effectively trapped with the homeowner unable to convert this available income source.
Fortunately, New York City-based EasyKnock has stepped in to provide solutions. Established in 2016, this innovative real estate technology firm offers multiple residential sale-leaseback programs. Collectively, these offerings enable qualified customers to obtain needed cash based on their respective homes’ equity.
EasyKnock’s Partnerships, Funding, and Acquisitions
As EasyKnock builds its game-changing platform, the company continues to engage with complementary service providers. These mutually beneficial partnerships and enhancements to funding and acquisitions are key to the business’s continued expansion.
The EasyKnock-iHeartMedia Partnership
To enhance brand visibility and reach its wide-ranging target market, EasyKnock has forged a “win-win” partnership with iHeartMedia. As the United States’ premier audio media business, iHeartMedia boasts an impressive broadcast radio and podcast publishing reach. EasyKnock’s digital advertising and on-air campaigns will appear across iHeartMedia’s diverse media platforms.
In this collaboration, EasyKnock and iHeartMedia will ideally increase their audience exposure while enhancing brand recognition. These benefits may enable both companies to experience significant growth.
Both companies’ leaders have expressed strong support for the collaboration. Jarred Kessler, EasyKnock’s founder and CEO, recognized the value iHeartMedia brings to the table.
“iHeartMedia has a loyal, deeply engaged audience.
Their unequaled reach represents a tremendous opportunity — more homeowners need to know that there is a viable way for them to secure cash when they need it most,” Kessler said. “We are confident that their following will appreciate learning about an option that they may not have known existed for them.”
Joe Robinson, iHeartMedia’s president of corporate development and ventures, acknowledged EasyKnock’s contributions, stating, “EasyKnock is offering a powerful solution to a wide swath of undersupported Americans. We believe this will bring great value to listeners across the country, and we look forward to helping them spread their message.”
The EasyKnock-Piñata Partnership
EasyKnock recently partnered with Piñata, the United States’ leading credit-building and reward platform geared to renters. The Piñata partnership will help EasyKnock customers improve their credit while receiving rewards for financially responsible behavior.
Each month, EasyKnock transmits Piñata users’ timely rent payment data to the Equifax, Experian, and TransUnion credit bureaus. These EasyKnock customers enjoy on-time rental payment rewards and rental insurance access.
EasyKnock customers can monitor their credit scores and view data reported to the credit bureaus. Customers will also earn points for completing surveys and credit education.
Both Companies’ Leaders Affirm the Program’s Benefits
The EasyKnock-Piñata partnership offers benefits for EasyKnock customers. Kessler detailed the advantages. “The benefits and rewards provided by Piñata are game-changing for American renters.
“Partnering with them ensures that our sale-leaseback customers can now improve their financial well-being while earning rewards. It also ensures renters are celebrated and supported in ways that are long overdue.”
Lily Liu, Piñata CEO, agreed. “By teaming up with EasyKnock, we can help even more renters in their quest to improve their financial standing,” Liu said. ”In joining EasyKnock on the mission to create more financial flexibility for American families, we can help them reach their goals and ultimately, improve the quality of their lives.”
EasyKnock Completes Series D Funding Round
For many firms, continued company growth is tied to a regular infusion of investor dollars. In March 2024, EasyKnock raised $28 million in its Series D funding round. Northwestern Mutual Future Ventures, Northwestern Mutual’s venture capital affiliate, emerged as a major EasyKnock investor. Other new funders and repeat backers also participated in the Series D round.
EasyKnock will use the $28 million to significantly expand its financial services platform. Over time, the company will offer additional financial products that enhance customer solutions. Taken together, EasyKnock’s offerings will provide additional methods for consumers to convert their home equity into cash. The conversion proceeds will enable customers to enjoy more financial flexibility.
Kessler acknowledged the Series D funding round’s value. “Our driving mission — empowering families with financial flexibility and control — is bolstered with this capital investment. Like the EasyKnock team, our distinguished group of investors recognize the critical need for countless American homeowners to improve their financial well-being.
“We’re proud to have Northwestern Mutual on board, as this round will enable us to turbocharge our product development and expand the ways we support our customers in the very near future.”
EasyKnock Executes 4 Key Acquisitions
EasyKnock has executed four notable acquisitions. In 2023, the company acquired Ribbon Home, a noted cash-offer vehicle. During the year, EasyKnock also acquired Onder, a home maintenance business. To end 2023, EasyKnock acquired Balance Homes, a home equity co-ownership business. The collective new assets enable EasyKnock to facilitate more cash-backed home purchase offers.
In May 2024, EasyKnock acquired HomePace’s assets. The home equity investment enterprise’s acquisition expanded EasyKnock’s offerings. These collective enhancements will provide consumers with innovative ways to purchase and sell residential properties. Consumers will also have more options for converting their home equity into cash.
EasyKnock Looks Toward the Future
During the next three to five years, EasyKnock plans to raise over $1 billion in assets. Effectively, the company will establish its own funds while continuing third-party funding collaborations.
“From the outside looking in, it may look like there are a lot of different things we are doing right now, but we are very focused on one thing: We are building a platform,” said Kessler. “The platform is moving liquidity, equity access, and services around that.””
