RLTYco Secures $20M Series A for Nationwide Commission Funding Expansion
RLTYco, a New York-based full-service provider of comprehensive resources for real estate professionals, has recently announced the closure of a $20 million Series A funding round. This strategic equity and debt raise, led by Altriarch, enables real estate professionals nationwide to secure commission funding in as little as 24 hours. The funding round also included participation from existing investors such as Andrew Dodge, entrepreneur and angel investor, Christopher Schmidt, Executive Vice President at Related Companies, and SERHANT. Ventures, SERHANT.’s education division that develops, creates, and produces resources and solutions for agents in today’s new marketplace.
The mission of RLTYco is to level the playing field with salaried workers and catalyze long-term success for real estate professionals. With this funding, all existing RLTYco services, including RLTY Capital, RLTY Legal, RLTY Tax, and RLTY Health, are now available nationwide, effective immediately. At the core of this rollout is RLTYco’s proprietary technology platform, which utilizes bank-grade encryption, real-time financial and identity data verification, automated credit checks, and rigorous security protocols to bring the power of rapid commission funding to independent real estate agents.
The platform’s custom credit decisioning algorithms, rapid funding disbursement, and secure payment processing are complemented by integrated messaging systems for real-time client support and assistance. Since its inception, RLTY Capital has funded over a thousand deals across more than 102 brokerages in New York, Florida, and the tri-state area.
RLTYco’s first-in-kind partnerships will expand nationwide, effective immediately, including services with LegalZoom, the #1 online business formation provider trusted by over 4 million businesses, and UnitedHealthcare via their affiliate HealthMarkets Insurance Agency, the largest healthcare provider in the United States.
The company was founded by industry veterans Briggs Elwell and Daniel Kennedy in 2021, with a clear understanding of the real estate industry and the challenges agents, brokerages, and developers face every day. Recognizing a gap in the kinds of services available, the founders set out to address the diverse needs of all real estate professionals, starting with commission funding.
Early customer interactions revealed widespread misconceptions among independent contractors about cash flow management, business structure, and tax planning. Responding to this knowledge gap, RLTYco broadened its offerings to include holistic services, empowering real estate professionals with tools for sustainable business operations.
Briggs Elwell, co-founder of RLTYco, stated, “Our mission to transform the landscape for real estate professionals has resonated deeply with our clients and partners. By providing immediate access to capital, alongside game-changing resources, we’re not just supporting our customers — we’re helping to facilitate a new era of entrepreneurship. We’re immensely grateful for our partners who share our vision of leveling the playing field for independent contractors. With this support, we’re thrilled to expand our services nationwide to every state, all powered by RLTYco’s proprietary fintech platform.”
Danielle Brown, Managing Partner and Co-CEO at Altriarch, added, “RLTYco uniquely combines fintech, insurtech, and professional services and has an infinite addressable market given their rate of reoccurring clients; a staggering 75% of clients have used the platform for multiple transactions. We’re continually impressed by the company’s strategic vision, educational approach to holistic business health for independent contractors, and are eager for this next chapter.”
Ryan Serhant, CEO and founder of SERHANT., emphasized, “Agents across the United States gaining access to these tools and resources is a defining moment for the industry that can’t be overstated. A fundraise of this size demonstrates our commitment to the profession which rewards entrepreneurs who take accountability for their own career path. There is so much opportunity in the current marketplace, and companies like RLTYco reinforce the viability of being a successful agent in 2024 and beyond.”
Andrew Dodge, entrepreneur and angel investor, noted, “I’m thrilled to double down on my investment in this pioneering company that is creating a new category for real estate professionals and helps them futureproof business operations. RLTYco empowers independent real estate contractors with resources typically reserved for salaried employees at a time when it is harder than ever to be an agent.”
With this significant funding, RLTYco is poised to further its mission of providing real estate professionals with the knowledge, resources, and support they need to excel in their careers while navigating the intricate landscape of regulations and compliance.
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