Splitero, a San Diego, CA-based financial services company giving access to home equity, secured $5.8m in seed funding.
The round was led by Gemini Ventures with participation from Permit Ventures, Fiat Ventures, and others.
The company intends to use the funds to continue to expand operations and its business reach nationally.
Led by CEO Michael Gifford, and COO David Zvaifler, Splitero is a financial technology company that provides homeowners options to access home equity. By giving a sum of cash in exchange for a share of their home’s appreciation, the company allows homeowners to put their equity to use without income or credit score requirements. It is currently available to homeowners in California.