REQUITY HOMES CLOSES $1.2 MILLION TO EXPAND RENT-TO-OWN HOME OWNERSHIP MODEL TO WESTERN CANADA

by Innovation Factory
April 19, 2022

ORIGINAL ARTICLE, Josh Scott, betakit.com, April 14, 2022

As home ownership in Canada becomes increasingly less attainable for many Canadians, Toronto-based proptech startup Requity Homes wants to offer a new alternative.

Requity aims to build a world where rent-to-own a home is as easy as lease-to-own a car by catering to a particular subset of prospective homebuyers that have been turned down by traditional lenders.

“Two years ago, I saw an opportunity in Canada for an underserved market: aspiring homebuyers who have the cash flow to afford a home, but cannot qualify for a mortgage,” Requity Homes co-founder and CEO Amy Ding told BetaKit in an interview. “At the time, there was no one doing anything helping the segment in Canada, but there were proven models in the [United States], so I thought, why not take a Canadian approach at it?”

Led by Ding, an RBC Capital Markets and RBC Ventures alum, Requity Homes offers a similar rent-own home ownership model as San Francisco-based Divvy Homes and New York’s Landis provide in the US.

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