Backflip is a real estate financial technology company founded in 2020, specializing in facilitating "fix-and-flip" real estate investments. Headquartered in Dallas, Texas, the company offers a comprehensive platform that combines real estate analysis, sourcing, and financing solutions for investors. Backflip has made significant strides in funding, having raised $15 million in a Series A round in 2024 and amassed over $95 million in total equity and debt financing. The company is led by co-founders Josh Ernst and Jake Rome, positioning itself as a dynamic player in the proptech and fintech arenas.
| Attribute | Information |
|---|---|
| Founding Date | 2020 |
| Headquarters | Dallas, Texas, United States |
| Founders | Josh Ernst, Jake Rome |
| Revenue | $10 million net revenue run rate (2023) |
| Profits | Approaching profitability |
| Key Investors | FirstMark Capital, Vertical Venture Partners |
| Industry | PropTech, FinTech |
| Employees | Approximately 100 |
Backflip was founded in 2020 to address pain points in the real estate investment market, especially in the "fix-and-flip" segment. Launching in Dallas, Texas, provided ample opportunities due to the city's vibrant real estate sector and tech-friendly environment. The initial phase involved developing a robust platform that connected users with essential property data and financing options. In 2021, Backflip emerged from stealth mode, obtaining $8 million in an equity seed round and $27 million in debt funding to support its ambitious plans.
Backflip has developed into an all-in-one platform that supports real estate entrepreneurs by providing technology solutions and financial products. Its business model revolves around enabling users to source, analyze, and finance real estate investments efficiently.
Currently, Backflip is entrenched as a significant player in the proptech and fintech markets, offering residential transition loans and facilitating real estate transactions through innovative technology. The company’s unique approach allows it to attract real estate entrepreneurs who are revitalizing the existing housing market. Strengthened by substantial funding rounds, Backflip is well-positioned to extend its influence, catalyzing the market of fix-and-flip investments with innovative solutions.
Backflip is making a substantial impact in the real estate investment sector by offering streamlined financial products and comprehensive technological tools for property analysis and financing. With consistent growth and significant market presence, the company appears poised for sustained expansion and innovation. As it approaches profitability, Backflip continues to drive forward, reflecting its potential as a transformative force in the proptech and fintech industries.