Updates, milestones, and links shared by Nada.
Secured term sheet for $25mm credit facility to serve as leverage to our Cityfunds real estate investment funds -- will accelerate our HEI originations and AUM growth rate in 2024. Closing on the facility in early September and launching soon
3/22/2024 -- After a couple of months of diligence, we have obtained a full term sheet from a bank for a Home Equity Contract financing credit facility with securitization as an exit. This is a substantial milestone for Nada; now that we have secured access to institutional capital, we can scale quickly. This term sheet represents an additional $10M+ revenue for Nada -- additive to our forecasted growth from Cityfunds.
Announced national partnership with EOS Solar (enabling homeowners to finance solar without debt)
New Partnership Aims to Provide $50M monthly in Home Equity Investments for Solar and Home Improvement Projects.
Grew revenue by over 300% from Q1-2023 to Q4-2023 -- exited 2023 with a forward ARR of >$1.2M
Forecasting $4M+ in 2024 revenue
Wins Benzinga's 2023 Best Alternative Investment Platform https://www.benzinga.com/fintech/23/11/35922810/nada-takes-home-coveted-best-alternative-investments-platform-at-benzinga-global-fintech-awards-2023
10k users joined the Nada platform -- while staying below $40 in CAC (marketing cost per user)
Nominated for the 2023 EY Entrepreneur of the Year Award
Finalist for 2023 Dallas Innovator of the Year
Cityfunds by Nada app released to Apple and Google app stores
SEC-Qualified to offer Cityfunds direct to retail investors for $70mm per rolling 12-month period
$5mm raised as a priced equity round, led by LiveOak Venture Partners with co-investments from Revolution, Capital Factory, Sweater, 7BC Ventures, and a few others.
$3.4mm raised as a pre-Seed round from individuals and syndicate funds on a SAFE note. Early team and MVP.