Flyhomes, a real estate startup that funds cash purchases, announced Wednesday that it raised $150 million in Series C funding, valuing the five-year-old business at more than $800 million, according to sources familiar with the matter.
The Seattle-based company is capitalizing on a pandemic-fueled home-buying frenzy that has made cash offers a critical strategy for winning bidding wars in overheated markets like San Francisco and Seattle, and increased its transaction volume by 240% since last May.
“We’re trying to build the world’s best home buying experience,” says Tushar Garg, CEO and cofounder of Flyhomes. “With this round of funding, it really sets us up to go deliver on that.”
Garg says that Flyhomes has now worked with 2,700 customers…