Jay-Z, Will Smith Back Landis In $165M Funding Deal

Funds by rapper Jay-Z and actor Will Smith kicked in a monetary boost to FinTech startup Landis with fresh capital that brings the company’s total fundraising for Landis to a total of $165 million, per a Tuesday (July 27) press release. Landis is on a mission to help renters move forward along the road to homeownership as well as aid with financial literacy for all.

The funding round was led by Sequoia Capital. This Series A funding round marks the biggest infusion of capital to date for Landis. Additional investors in the round included Will Smith’s Dreamers VC as well as Arrive, a Roc Nation company. The existing backers were Signia Venture Partners. Per the release, this latest funding brings Landis’ total debt and equity raised to $182 million since the company’s launch.

“Landis is an innovative company that also has a social mission we are aligned with. We are excited to be part of a journey that helps Americans achieve homeownership through financial education,” said Smith, per the Tuesday release.

Co-Founder and CEO Cyril Berdugo and Co-Founder Tom Petit launched the company with an aim at delivering social impact and a mission of helping renters move toward homeownership. The company also is committed to assisting real estate professionals. As a way to advance access to homeownership, the company launched its Landis Homeownership Coach mobile app. Per the release, the app is available to those with an iPhone.

“What makes Landis unique is our ability to coach anyone to homeownership. This new funding will allow us to help more Americans on their path to homeownership by expanding to new states, hiring talent nationwide and providing a better experience to our clients and partner agents and lenders,” Berdugo said.

“We understand that people can fall on tough times, but no one should be locked out of homeownership forever. Whatever their situation, we give our clients easy, achievable steps to become eligible for a mortgage. Getting ready for a mortgage is often a stressful and difficult process. Landis makes it easy, fun and approachable,” said Petit.

Roelof Botha, partner at Sequoia, added, “Landis helps families take their first steps towards homeownership. By focusing on financial literacy and individualized coaching, Landis gives everyone the opportunity to own their home. Landis’ technology is particularly relevant to those with low-to-moderate income who have been neglected by traditional financial solutions. We are proud to partner with the Landis team as they increase financial inclusion and equality in America.”