The time-honored desire for homeownership has inspired countless Americans for generations. Today, however, the relentlessly higher cost of living has eroded many Americans’ savings. Living paycheck to paycheck, they’re finding it increasingly difficult to accumulate the funds needed for a down payment — but homeownership also comes with its own set of challenges.
Existing homeowners can find it difficult to convert their home’s equity into cash. Applicants’ substandard credit scores, high interest rates, and ongoing economic challenges can put a home equity loan out of reach.
Fortunately, a bold leader has stepped forward with a solution. EasyKnock is a New York City-based real estate technology firm that offers residential sale-leaseback programs to qualified customers. Established in 2016, this innovative company helps customers benefit from increased liquidity and enhanced financial flexibility. EasyKnock is also developing game-changing home purchase and sale solutions and is constantly on the lookout for new partnerships and acquisitions to enhance home equity solutions.
Companies don’t always expand via organic growth alone. Complementary partnerships and strategic acquisitions often play vital roles in a business’s expansion. From this perspective, EasyKnock recently engaged in several strategic business transactions.
The EasyKnock-iHeartMedia Partnership
A mutually beneficial business partnership offers significant advantages for both companies. With this concept in mind, in May 2024 EasyKnock forged a “win-win” alliance with iconic brand iHeartMedia.
iHeartMedia is the United States’ leading audio media company, known for its nationwide broadcast radio and far-reaching podcast publishing capabilities. iHeartMedia’s diverse platforms will soon carry EasyKnock’s on-air and digital advertising campaigns.
With diversified broadcast radio properties and podcasts with wide-ranging focus, iHeartMedia reaches a substantial number of United States consumers. EasyKnock’s potential customers hail from multiple demographic, geographic, and interest sectors. The EasyKnock-iHeartMedia partnership enables EasyKnock to reach this diverse market via iHeartMedia’s vast range of properties.
Jarred Kessler, EasyKnock’s CEO and founder, knows that working with iHeartMedia provides EasyKnock with an enviable market reach.
“iHeartMedia has a loyal, deeply engaged audience,” Kessler said. “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. 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, recognized EasyKnock’s game-changing solutions. “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.”
EasyKnock’s $28 Million Series D Funding Round
In any industry, a company’s product, service, or geographic expansion is typically tied to capital investments. In March 2024, EasyKnock completed a Series D funding round, garnering $28 million from multiple investors.
Northwestern Mutual Future Ventures, Northwestern Mutual’s venture capital affiliate, emerged as a notable new investor. Other new backers, along with repeat investors, also participated in EasyKnock’s Series D funding round.
EasyKnock will utilize the $28 million in investor funds to aggressively expand its platform. Specifically, the company will introduce new products to be integrated into EasyKnock’s suite of homeowner financial solutions. Over time, consumers will enjoy increasingly versatile home equity conversion options and more financial flexibility.
“Our driving mission — empowering families with financial flexibility and control — is bolstered with this capital investment,” said Kessler.
“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’s Strategic HomePace Acquisition
In May 2024, EasyKnock completed a key acquisition, helping the company become a one-stop shop for home-related financial solutions. EasyKnock acquired the assets of HomePace, a home equity investment firm founded in 2020. HomePace devised an innovative way for homeowners to convert their home equity without a home equity loan or home equity line of credit. Instead, HomePace executed a proprietary home equity agreement with its homeowner clients.
EasyKnock’s HomePace acquisition broadens the acquiring firm’s products and services suite. When complete, EasyKnock will offer consumers alternative methods of buying and selling residential properties. EasyKnock will also introduce more ways for consumers to convert a home’s equity into cash.
“HomePace products address a critical and sizable market need and will be a powerful tool in our arsenal,” said Kessler. “The joining of our forces pulls the ladder up behind us and cements our role as a formidable, solution-driven presence in American real estate.”
The EasyKnock-Piñata Partnership
EasyKnock provides qualified customers with several options for converting their home equity into cash. To enhance these programs, EasyKnock is partnering with Piñata, the United States’ premier provider of renters’ reward and credit-building services.
Every month, EasyKnock sends Piñata users’ on-time rental payment details to the three major credit bureaus (Equifax, Experian, and TransUnion). Users can easily see reported data and regularly review their credit scores.
In addition to earning rewards for their responsible behavior, the customers receive access to rental insurance. They’ll also earn points for completing credit education and relevant surveys. When paying for routine expenses, the customers will receive discounted prices and cash back on purchases.
Perhaps most importantly, the EasyKnock-Piñata partnership will enable responsible renters to realize improved credit scores. This credit-building benefit can lead to lower loan and credit card rates along with reduced insurance premiums. “The benefits and rewards provided by Piñata are game-changing for American renters,” said Kessler.
“Partnering with them [Piñata] 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, affirmed the EasyKnock customer benefits. “By teaming up with EasyKnock, we can help even more renters in their quest to improve their financial standing…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 CEO Projects Further Strategic Moves
EasyKnock is also now offering FinLocker to all its customers for free. This initiative helps consumers improve credit scores, build savings for down payments, and secure mortgage qualifications.
Kessler noted, “Our customers come to us with a wide range of financial goals. FinLocker is an ideal complement to the EasyKnock offering.”
As EasyKnock continues to implement its strategic plan, Kessler is considering additional acquisitions to enhance the firm’s offerings. Examples include improved data veracity and relevant educational resources. Customers will also benefit from tools supporting the transition of homeowners to renters via a sale-leaseback program. Home co-ownership tools will also be part of the mix.
“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.”
