Hometap, the Boston-based financial technology company pioneering home equity financing solutions, announced today that it has raised $50 million in funding led by affiliates of Gallatin Point Capital. Hometap will use the funds to accelerate the adoption of its homeowner-first products that help homeowners address life’s challenges and opportunities without adding to their monthly expenses.
Hometap’s core home equity investment (“HEI”) product provides homeowners with cash today in exchange for a percentage of their home’s future value, offering a straightforward way to access equity without monthly payments. This model serves as the foundation for Hometap’s broader vision: expanding into a suite of homeowner-focused solutions that provide flexibility and confidence across every stage of homeownership.
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“As the cost of homeownership rises, families need practical, flexible ways to access the value in their homes,” said Jeffrey Glass, CEO of Hometap. “This financing allows us to further invest in the tools, technology, and education that help homeowners make confident financial decisions. It also reinforces our commitment to broadening home financing options that are aligned with the realities homeowners face today.”
Amid persistent affordability pressures and elevated borrowing costs, homeowners are increasingly seeking financial tools that meet modern needs.
“Today’s homeowners face not only the challenge of buying a home, but also the ongoing costs of maintaining it and navigating uncertain economic conditions,” said Matthew Botein, Managing Partner and Co-Founder of Gallatin Point Capital. “This investment reinforces Hometap’s leadership in delivering alternative home equity solutions and will help the company reach more people with innovative options that make homeownership more sustainable.”
Hometap’s funding comes on the heels of major operational milestones and sustained, top-tier homeowner satisfaction. Since its inception, Hometap has deployed over $2.3 billion in home equity investments, empowering more than 22,000 homeowners to make informed decisions that strengthen their financial futures.
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