Updates, milestones, and links shared by Nada.
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)\r\n\r\nhttps://www.kxan.com/business/press-releases/ein-presswire/694452380/nada-and-eos-loan-team-up-to-make-solar-and-home-improvement-financing-more-accessible/\r\n\r\nNew Partnership Aims to Provide $50M monthly in Home Equity Investments for Solar and Home Improvement Projects.
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
Grew revenue by over 300% from Q1-2023 to Q4-2023 -- exited 2023 with a forward ARR of >$1.2M\r\n\r\nForecasting $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
Nominated for the 2023 EY Entrepreneur of the Year Award
Finalist for 2023 Dallas Innovator of the Year
10k users joined the Nada platform -- while staying below $40 in CAC (marketing cost per user)
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.