Fund That Flip

High-Level Overview

Fund That Flip (now operating as Upright) is a fintech company providing a technology-enabled lending platform for residential real estate developers, particularly those flipping 1-4 family homes. It offers fast, affordable short-term loans (typically 6-12 months) to experienced investors for purchasing, renovating, and reselling properties, while enabling accredited individual and institutional investors to fund these loans for high-yield returns (8%+ annualized with monthly interest-only payments).[1][2][3][4] The platform serves real estate entrepreneurs across the U.S., solving the problem of slow, expensive traditional financing by using tech for efficient underwriting, origination, and servicing, which lowers costs and speeds funding to as little as seven days.[1][2][5] With over $1 billion in investments facilitated, 99.1% principal return to investors, and profitability since 2019, the company has shown strong growth, including 300% year-over-year revenue increases as of 2021 and national expansion from its New York City and Cleveland offices.[3][4][6]

Origin Story

Founded in 2014 in New York City by CEO Matt Rodak (CPCU) and Dan Morena, Fund That Flip emerged from Rodak's experience spotting a gap in real estate finance: flippers needed quick, transparent capital to avoid losing deals to slow bank approvals.[1][4][5] Rodak, an early JOBS Act adopter, assembled a team of industry experts, bootstrapped the product, and generated early revenue by disrupting inefficient RE lending with technology.[1] Pivotal moments include rapid growth—doubling revenue, loan volume, and customers annually pre-2019—fueled by funding rounds like an $11M growth round led by Edison Partners in 2019 and a $20M Series B in 2021 from GPO Fund, with participation from over 50 clients via AngelList.[3][5] Investors have included Sprint VC, Sand Hill Angels, SoundBoard Venture Fund, and Tribeca Early Stage Partners, supporting its evolution into an end-to-end platform.[1][3]

Core Differentiators

• Technology-Driven Speed and Efficiency: Underwrites and funds loans in days (vs. months for banks), leveraging proprietary tech for scalable origination, servicing, and data optimization, enabling up to $25M per project for flips, rentals, refinances, and more.[2][4][5]
• Competitive Terms for Borrowers: Direct lender with diversified funding (accredited investors, family offices, credit funds) offers lower rates, best-in-class service, and low loan-to-value ratios for reduced risk.[2][7]
• Investor Accessibility and Returns: Allows investments from $1,000 in fractional loan shares, delivering 8-9% yields, short durations (<12 months), and top transparency with a 99.1% principal return rate.[2][4][6]
• End-to-End Ecosystem: Evolving into a full real estate investment operating system with borrower tools, passive wealth generation, and community restoration focus, backed by low defaults and U.S.-wide territory managers.[3][4][6]

Role in the Broader Tech Landscape

Fund That Flip rides the proptech and fintech wave disrupting analog real estate finance, capitalizing on an aging U.S. housing stock and 72 million millennials demanding single-family homes amid a fix-and-flip boom.[3][4] Timing aligns with post-JOBS Act crowdfunding enabling peer-to-peer lending, while market forces like high investor demand for yield in short-term residential debt (low-risk, high-return alternative to stocks) favor its model.[1][2][5] It influences the ecosystem by empowering local entrepreneurs to scale, restore communities, and access global opportunities, while providing institutions scalable RE exposure—positioning it as an early mover in tech-enabled rehab loans with over $1B deployed.[3][6][7]

Quick Take & Future Outlook

Fund That Flip (Upright) is poised for further dominance in residential real estate debt, expanding its platform with data-driven innovations, new loan products, and international reach. Trends like AI underwriting, multifamily/commercial debt growth, and persistent housing shortages will shape its path, potentially pushing investments past $2B+ amid rising flip demand.[3][4][6] Its influence may evolve into a comprehensive RE tech stack, optimizing ecosystems for entrepreneurs and investors—building on its profitability and track record to transform undervalued neighborhoods into thriving communities, just as its origins envisioned.[4][8]