Its first appearance on the prestigious list caps a year of significant growth for the company; In 2022, Point hired key executives, expanded its footprint and closed its Series C
Palo Alto, Calif., Nov. 17, 2022 (GLOBE NEWSWIRE) — Point, the leading real estate capital platform, today announced that it ranked No. 56 on Deloitte’s Technology Fast 500™, a ranking of the top 500 technologies , the fastest growing media and telecommunications, life sciences and energy technologies in North America, now in its 28e year.
This is Point’s first appearance in the Technology Fast 500, and the recognition comes during a year of significant growth for the company. Through the end of the third quarter, Point’s home equity financing volume more than quadrupled year-over-year as US homeowners sought an alternative to interest-based home financing. Point has also expanded its physical footprint – recently adding its 24th geographic area in the United States – and now covers 70% of the US population. The company plans to be in a total of 27 states plus Washington, D.C., by the end of 2022. The company’s growth is fueled by a $115 million Series C funding it closed in May. .
“Point’s success can be attributed to our team’s dedication to helping our homeowners get the most out of their homes,” said Eddie Lim, co-founder and CEO of Point. “I am so proud of the company we are building together. We’ve created something special while helping thousands of homeowners start a business, send a child to school, remodel their home, or become more financially independent. I look forward to the future and expect 2023 to be one of our best years yet.
“This year’s Technology Fast 500 list is a true reflection of some of today’s most determined and inspiring pioneers who have thrived by anticipating what’s next, understanding what it takes to succeed, and doing advancing creativity,” said Christie Simons, Partner, Deloitte & Touche LLP and industry leader for technology, media and telecommunications within Deloitte’s audit and assurance practice. “Representing all facets of technology, the winners showed not only that they had the vision, but that they could also expertly manage their business through rapid growth. We congratulate each winner on their impressive achievements.
About the stitch
Point is a real estate capital platform that makes real estate wealth more valuable to everyone. With a Home Equity Investment (HEI) from Point, homeowners can unlock their home’s equity, eliminate debt, weather tough financial times, and diversify their wealth. For investors, Point provides access to a previously untapped asset class in the residential real estate space. Founded in 2015 by Eddie Lim, Eoin Matthews and Alex Rampell, Point is backed by top investors including Westcap, Andreessen Horowitz, Ribbit Capital, Greylock Partners, Bloomberg Beta, Redwood Trust, Atalaya Capital Management, Kingsbridge Wealth. Management, Deer Park Road Management, The Palisades Group, Alpaca VC and Prudential.
CONTACT: Amanda Woolley Point 3603191738 [email protected]