TheRedPin, a Toronto-based technology-enabled real estate brokerage platform, was seeking additional capital to support the company’s nationwide expansion. Backed by reputable investors and doubling in size for several years in a row, the company’s shareholders sought venture debt in order to avoid the dilution that another equity round would cause.
“We knew right away that it would not be an easy story to tell: the kind of growth that TheRedPin experienced always makes lenders uncomfortable,” commented Ilan Jacobson, Founding Partner and CEO of FirePower. “It is typical in Canada. But we have been in this niche for years, and we knew how to help TheRedPin secure this funding. ”
FirePower brought to bear its intimate knowledge of the venture debt space, securing $2.5m in non-dilutive debt capital, which will help TheRedPin expand nationwide and continue to build its brand.
TheRedPin connects people, data and technology. TheRedPin’s platform carries the largest database of active residential listings in the Greater Toronto Area, with plans to expand nationally. TheRedPin is a challenger brand, with a unique business model that streamlines the real estate journey, and provides exceptional end-to-end services and benefits, not found at other traditional brokerages. www.theredpin.com