Point’s 2017 highlights

Here's an overview of what happened at Point in 2017.

Point Editorial Team
December 19, 2017
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Point chooses RoundPoint as servicing partner

Charlotte, NC, Jan. 19, 2017 – RoundPoint Mortgage Servicing Corporation, one of the nation’s largest non-bank mortgage servicing companies, announced today that it has been selected as the sole servicing partner for Point’s growing portfolio of fractional residential real estate assets. Point is the first financial technology platform that allows homeowners to unlock their home equity wealth without taking on new debt. 

Under the agreement, RoundPoint Mortgage Servicing, a top-20 non-bank mortgage servicer and a prominent provider of mortgage liquidity, will manage assets acquired by Point. Homeowners sell Point a fractional interest in their properties in exchange for a tax-deferred lump sum with no interest rates or monthly payments. Within ten years, the homeowner exits the agreement by selling their home or buying out Point. Most homeowners use the capital to diversify their wealth, invest in their businesses, renovate their homes, or pay off debts.

Point provides homeowners with a brand new finance solution that aligns homeowner and investor interests. For the first time, investors can buy fractional interests in owner-occupied residential real estate through a digital platform. As more lenders grapple with creating products that meet the needs of varying borrower types, Point is one of the more innovative FinTech firms to have developed a compelling product for homeowners to tap their real estate equity. “This type of innovation is critical to the continued growth of the housing market,” said Kevin Brungardt, CEO of RoundPoint Mortgage Servicing. “We are delighted to have been selected as Point’s servicer, and we are looking forward to a long and successful relationship.”

“As demand for our product continues to grow, it is clear that both the extent and diversity of RoundPoint’s asset management expertise make it the perfect partner for our unique product,” said Eddie Lim, CEO of Point. “RoundPoint shares our mission to align our interests with homeowners and provide homeowners with a simple, fast and efficient experience, and our partnership enhances our ability to do just that.”

Leading the integration between the two companies, Point’s Product Manager, Elissa Kline, said, “It was important that we chose a partner that has both a strong reputation on Wall Street and the technical ability to work with a whole new asset class. RoundPoint is unique in that it meets these two requirements, and we’re excited to scale our businesses together.”

Brad Johnson, RoundPoint’s COO, added, “Our operational infrastructure, capacity and technology solutions provide a solid ‘back-office’ platform for Point.”

RoundPoint Senior Vice President of Business Development Allen Price commented, “Our ability to efficiently service this product significantly reduces Point’s servicing, operational and compliance related risks, while allowing them to focus on product innovation and distribution.”

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Point selected to 2017 CB Insights Fintech 250 At Future of Fintech

New York, NY, June 27, 2017 — CB Insights today named Point to the prestigious Fintech 250, a select group of emerging private companies working on groundbreaking financial technology. CB Insight's CEO and co-founder, Anand Sanwal, revealed the Fintech 250 companies during The Future of Fintech, a gathering of the world's largest financial institutions, best fintech startups, and most active venture investors.

"The financial services industry will see more change in the next ten years than it has in the last 100. And that transformation is being driven by a group of smart insurgent startup companies. The Fintech 250 are the most promising of these insurgents. They are bringing emerging technologies and business models to financial services that will permanently change the way we handle money and do business," said CB Insight's CEO, Anand Sanwal.

“Point is experiencing phenomenal growth as our product creates new opportunities and solves significant problems for homeowners across the country. Our drive to create new financial solutions that align homeowners and investors is beginning to change the financial landscape. Recognition of this progress is always welcome, especially when it comes from a data-driven organization known for its insights and analysis,” said Point’s Chief Executive Officer, Eddie Lim.

The CB Insights research team selected the Fintech 250 companies based on several factors, including data submitted by the companies and the company’s Mosaic Score. The Mosaic Score, based on CB Insights’ National Science Foundation-funded algorithm, measures the overall health and growth potential of private companies. Through this evidence-based, statistically-driven approach, the Mosaic Score can help predict a company’s momentum, market health, and financial viability.

Point investors Ribbit Capital and Andreessen Horowitz top the list of investors with portfolio companies in the list with 17 and 9, respectively. Industry leaders in fintech join Point in being recognized for their innovative technology in front of an audience of 1000 senior executives from around the world and news outlets, including The New York Times, The Wall Street Journal, The Financial Times, Reuters, and Bloomberg.

Quick facts on the Fintech 250:

  • These 250 emerging private companies raised $14B across 240 deals in 2016.
  • Applications of their technology include breakthroughs in insurance, lending, payments, human resources, real estate, and much more.
  • More than 2,000 companies were nominated or applied for the Fintech 250 (only 8% were selected).
  • Ribbit Capital has backed 17 of the Fintech 250 companies, while Andreessen Horowitz and Goldman Sachs backed 9.
  • Twenty-three Fintech 250 companies have reached a valuation of $1B or more.
  • Twenty-three countries are represented among the Fintech 250 companies.

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Point in the media

Our innovative products have been featured in top publications.

Point CEO, Eddie Lim made Business Insider's 100 people who are transforming business
Every year, Insider surfaces 100 leaders across 10 industries who are driving unprecedented change and innovation. Lim, the CEO and cofounder of Point, wants to make it easier for people to tap into that wealth. Lim’s company, which he founded alongside Eoin Matthews in 2015, offers homeowners lump sums of cash in exchange for a stake in their home.
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Point closes on $115M to give homeowners a way to cash out on equity in their homes
Historically, homeowners could only tap into the equity of their homes by taking out a home equity loan or refinancing. But a new category of startups have emerged in recent years to give homeowners more options to cash in on their homes in exchange for a share of the future value of their homes.
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