Backflip, a proptech / fintech platform, has secured $184 million in capital, comprised of $30 million in equity and $154 million in asset-backed financing, to fund Residential Transition Loans (RTLs), also known as fix-and-flip mortgages. Despite challenges in the housing market, Backflip’s origination volume has tripled year-over-year, reaching a $375 million run rate, while its members analyze $10 billion in property deals on the platform monthly. 

Backflip Raises $184 Million to Finance ‘Value-Add’ Residential Investments