HomeLight raises $363M to spur iFunding model

The funding spree for alternative real estate finance models continues with HomeLight’s $363 million funding round. The funding includes $263 million of debt financing that the company says it will use to fund its cash offer service, in which the company makes cash offers on homebuyers’ behalf, and its home trade-in service, in which it helps finance a homeowner’s purchase of a new home and the sale of their existing home. The funding illustrates the intense attention the alternative financing model is receiving and the promise investors think it has.