Today, Ribbon announced they were named to Business Insider’s list of 21 Real-Estate Startups to Bet Your Career on in 2023. 

This year has been difficult for plenty of proptech startups like Zillow, Redfin, and Opendoor due to the cooling real-estate market, rising interest rates, stubborn inflation, and lower homebuyer demand after a pandemic-driven frenzy.

Ribbon is proud to be one of the companies that continued innovating different aspects of homebuying, by digitizing the closing process, helping investors diversify their portfolios with new assets like farmland, as well as providing a better rental experience for renters.

Ribbon made it on this list because they were able to achieve all of these milestones while raising capital from investors, despite the predictions of economists who foretell a tough road ahead for the real estate industry in 2023. Ribbon is honored to be named one of the “bright spots of the real estate industry,” and a place that might be a “good bet” for those looking to jump to a proptech startup. If you’re one of the many people looking to take advantage of the opportunities presenting themselves in the proptech startup world, read on to learn more about Ribbon.

Who is Ribbon?

Ribbon was founded in 2016 and is headquartered in New York City. The company is pioneering a sale-leaseback model that allows homeowners to sell their homes to the company and then lease it back as renters while they use the cash gained from the deal to pursue their financial goals.

Customers can eventually decide to direct Ribbon to sell the home on the open market, where the customer can collect any home value appreciation following the sale. However, some customers also have the right to repurchase the home at any time within five years of the initial sale to Ribbon. 

Ribbon is giving more people the opportunity to reach their financial goals without having to give up the home they know and love when they’re not ready to move.

So Why is it a Good Bet? 

The company’s business model allows homeowners to convert their home equity to cash during market downturns. Ribbon’s CEO and founder, Jarred Kessler expressed that the company is also planning on expanding and raising new venture capital in 2023.

To date, Ribbon has over $115 million in total funding, having closed its Series C Funding round in February 2022. 

If you would like to check out Business Insider’s full list of Real-Estate startups to bet your career on in 2023, you can find it here or learn more about Ribbon career opportunities and workplace culture here.