Growing direct homebuyer Opendoor now has $3 billion in financial backing (yes, that’s “billion” with a “b”) thanks to a sizable new investment from Japanese technology company SoftBank Group.
Opendoor announced Thursday that it secured a $400 million investment from SoftBank Vision Fund, SoftBank’s investment arm.That investment pushes Opendoor’s total equity capital raised above $1 billion – $1.045 billion, to be exact.
“We’re thrilled to partner with SoftBank — they are visionaries with the ambition to transform entire industries. SoftBank understands that the traditional process of buying and selling a home is complicated, uncertain, and stressful for millions of people, and that Opendoor radically improves the experience. We’re excited to widen our ambitions as we launch new products, expand our services, and build an end-to-end experience for millions of people moving each year.
Eric Wu, founder and CEO of Opendoor