HomeBay Acquires 50% Interest in OTC National; Expands Services

HomeBay, a Serra Capital III portfolio company, announced on May 29 that it had purchased a 50 percent interest in OTC National, LLC ("OnTitle"), a national settlement services company with escrow and title insurance licenses in 31 states. HomeBay helps sellers to navigate the real estate process via automated & live help.

After this announcement was made, HomeBay announced that it had expanded to now include title and settlement services. The company currently has escrow services in California, Colorado, Florida, Illinois and Texas. 

CEO Ken Postashner enthused "Our investment in OnTitle gives our consumers a streamlined process and optimum experience. We're now the one-stop-technology-shop for brokerage, title and escrow. Home Bay is quickly working its way into the full value chain to capture all affiliated services associated with a real estate transaction."

Source: https://www.prnewswire.com/news-releases/home-bay-acquires-50-interest-in-otc-national-llc-300654887.html

Homebay expands to Georgia

HomeBay, a Serra Capital III portfolio company, has now expanded to Georgia. The company currently serves the Florida and California markets. HomeBay offers consumers a new way to buy and sell homes without commissions, saving home buyers and sellers an average of $16,000 per transaction.

Source: https://www.prnewswire.com/news-releases/home-bay-technologies-expands-to-georgia-giving-home-sellers-and-buyers-massive-savings-through-disruptive-technology-and-no-commissions-300584377.html

Chris Crocker Joins HomeBay

HomeBay, a Serra Capital III portfolio company, announced on Oct. 24 that it has welcomed Chris Crocker to the team. Crocker is the former VP of Strategic Partnerships at Zillow, as well as the former Chief Operating Office at Pacific Sotheby's, and brings more than 20 years' experience to the HomeBay team.

HomeBay helps sellers to navigate the real estate process via automated & live help to make the listing, selling and closing processes faster, easier and less stressful. The company also puts homes in front of millions of buyers by syndicating the listings to the MLS and the most popular real estate sites across the web.

"We're thrilled for Chris to join the Home Bay team. We've admired Chris for his leadership as well as his perspective and approach in advocating and leveraging technology to help partners," said Home Bay co-founder Tom Owen. "We place tremendous value on fostering great partnerships and building innovative products that support our partners. Chris is the right choice to lead this critical role."

Source: https://www.prnewswire.com/news-releases/former-vp-of-partnerships-at-zillow-and-former-coo-of-pacific-sothebys-joins-home-bay-technologies-inc-300533603.html

HomeBay Brings Florida Home Sellers and Buyers Significant Costs Savings

HomeBay, a Serra Capital III portfolio company, has expanded to Florida. Home Bay offers consumers a new way to buy and sell homes without commission fees, saving its customers an average of $16,000 per transaction. HomeBay is a technology driven real estate company that helps sellers to navigate the real estate process via automated & live help to make the listing, selling and closing processes faster, easier and less stressful.

"Consumers using traditional agents are a very dissatisfied group. Even when consumers like the agent, they understandably hate the fees. Intuitively, consumers understand that three to six percent of the price of their home is way too much.," said Tom Owen, co-founder of HomeBay. "Based on our strong adoption and success, we believe consumers are eager for a superior solution at a fraction of the cost."

Source: https://www.prnewswire.com/news-releases/home-bay-technologies-brings-florida-home-sellers-and-buyers-significant-costs-savings-with-a-no-commission-fee-model-300533576.html

HomeBay Rewriting the Rules of Engagement in Real Estate

HomeBay, a Serra Capital III portfolio company, was recently listed in a piece on The Lenders Network as one of five fintech companies that is changing the way people engage in real estate. HomeBay helps sellers to navigate the real estate process via automated & live help to make the listing, selling and closing processes faster, easier and less stressful. The company also puts homes in front of millions of buyers by syndicating the listings to the MLS and the most popular real estate sites across the web.

The article features HomeBay's platform, which allows regular homeowners to sell like professionals without the high costs of engaging a real estate agent.

Source: https://thelendersnetwork.com/5-fintechs-rewriting-the-rules-of-engagement-in-real-estate/

Homebay Successfully Completes $5M Funding

HomeBay, a Serra Capital III portfolio company, announced on June 26 that it has successfully completed a $5M round of funding. HomeBay, a San Diego based company, provides consumers a smarter way to buy and sell homes with data-driven intelligence, complete transparency and an on-demand customer experience. Home Bay’s sophisticated technology platform expedites the transaction with efficient, seamless systems that save consumers and real estate agents time and money.

The company plans to use the financing for expansion into new markets. Serra Capital III participated in the round. 

Source: http://www.prweb.com/releases/homebay/homesforsalebyowner/prweb14448519.htm