Mynd, the company revolutionizing real estate investing, today announced the close of $30 million dollars in financing led by Invesco Real Estate, a global real estate investment manager. Despite the turbulent economic environment, the company's valuation remains flat. Mynd also had strong participation in the round from its current investors. The additional capital will enable the company to continue to strengthen its operations, technology and talent to deliver great experiences for its customers.
“It hasn’t been an easy year for the real estate and technology industries. Proptech has been hit especially hard, from failed SPAC offerings to down rounds,” said Doug Brien, CEO and co-founder at Mynd. “Despite industry-wide headwinds, Mynd is positioned for success. This round represents a strong vote of confidence in our business model, technology and vision.”
Mynd enables both retail and institutional investors to purchase and manage single-family real estate portfolios anywhere in the country, removing the often restrictive barriers of geography and proximity and enabling them to build diverse portfolios and grow long-term, generational wealth. The company continues to grow its full-service, institutional partnerships, including buying and investment management for all interested clients.
“Single-family rental represents a tremendous opportunity to invest in an emerging asset class that has some of the strongest fundamentals in real estate today,” said Bert Crouch, Managing Director - Head of North America at Invesco Real Estate. “We’re excited to support Mynd and leverage our strategic relationship as they continue to unlock and execute on opportunities for investors.”
To learn more about how Mynd is rethinking real estate investing, visit www.mynd.co.
–––
About Mynd
Mynd is a tech-enabled real estate company serving the $85B+ property management and real estate investment market. Powered by a proprietary, all-in-one digital platform and local listing and property management experts, Mynd simplifies the entire investment journey for both first-time and veteran investors, allowing more Americans access to the single-family residential sector as a way to build intergenerational wealth.
With operations in 26 markets across the U.S., Mynd removes the time, communication, and geographic barriers traditionally associated with buying real estate.
With Mynd, investors can confidently find, purchase, finance, insure, lease, manage, and sell single-family rental properties, 100 percent remotely.
Founded in 2016, Mynd is backed by top VCs, including Lightspeed, Canaan, Jackson Square, and QED, and announced a $5 billion deal with Invesco Real Estate in 2021, making Mynd one of the largest buyers of single-family rental homes in the country.
About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $91.4 billion in real estate assets under management, 587 employees and 21 regional offices across the U.S., Europe and Asia (as of December 31, 2022). Invesco Real Estate invests across the risk return spectrum, from core to opportunistic; in equity and debt; listed and direct; locally and globally. Invesco Real Estate is the real estate investment center of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; http://www.invesco.com/realestate.