According to PANews, Homium, a real estate equity mortgage institution and tokenization platform, has successfully raised $10 million in a Series A funding round. The round was led by Sorenson Impact Group and Blizzard Fund of Avalanche.
Homium is known for its unique business model, which involves issuing the first home equity loan on Avalanche. Currently, Homium's loans are being implemented in Colorado, with plans to expand to other states. As part of the loan agreement, homeowners pledge a portion of the appreciation in their home's value.
For investors, who provide the funds for these loans, they receive a tokenized asset. This asset tracks the price appreciation of the shared appreciation housing loan pool issued on Homium. This innovative approach to real estate financing represents a new frontier in the intersection of blockchain technology and traditional finance.