Nada

Nada (nada.co) is a financial technology firm targeting the $30 trillion home equity market with a platform for both homeowners and investors. Founded in 2019 by John Green and Mauricio Delgado, the Dallas-based company provides a mechanism for homeowners to access liquidity from their home's value without incurring new debt.

The company's core offering revolves around Home Equity Investments (HEIs), which are securitized and offered to investors through its flagship product, Cityfunds. These SEC-qualified funds allow individuals to invest in diversified portfolios of home equity in specific U.S. cities, such as Austin, Miami, and Dallas, with minimums as low as $100. For investors, this model provides targeted exposure to residential real estate appreciation without the burdens of property management. For homeowners, Nada offers its "Homeshares" product, which provides an upfront cash payment in exchange for a percentage of the home's future appreciation. This process involves no monthly payments or interest, with the settlement occurring when the homeowner sells the property or chooses to buy back the equity.

John Green, co-founder and COO, transitioned from a career as a touring musician to the mortgage industry, where he held strategy and risk management roles at companies including JPMorgan Chase before co-founding Nada. Mauricio Delgado, co-founder and CFO, brought a background in computer science from Stanford and experience spanning Wall Street to serving as CEO for an auto fintech company. In June 2024, Tore Steen, former CEO of CrowdStreet, was appointed CEO of Nada to guide its next growth phase, with Green moving to the COO role. Sundance Brennan, an expert in mortgage and real estate finance, serves as the VP of Revenue.

The company generates revenue through its core products, Cityfunds and Homeshares, having pivoted to this exclusive focus in late 2022. Since its inception, Nada has raised over $17.6 million in funding from investors including LiveOak Venture Partners, Revolution's Rise of the Rest Seed Fund, and Capital Factory. The platform is designed to function like a two-sided marketplace where investor capital pooled in Cityfunds is used to finance the HEIs for homeowners, creating a cyclical model where returns from settled HEIs are reinvested into new ones.

Keywords: home equity investment, real estate investing, fintech, Cityfunds, fractional ownership, property technology, proptech, investment platform, Homeshares, real estate finance, residential real estate, asset-backed securities, homeowner liquidity, alternative investments, debt-free financing, single-family homes, investment funds, real estate market, John Green, Mauricio Delgado, Tore Steen