Shantel
Key Takeaways
- Backflip, an all-in-one real estate and fintech platform for fix-and-flip investors, has expanded its operations nationwide to 41 new markets across the United States.
- The platform empowers real estate investors, both experienced and first-time, with data, technology, and capital to make informed investment decisions and revitalize aging homes.
- Backflip has experienced significant growth, achieving a threefold increase year-over-year, despite market challenges.
- The company’s acquisition of Austin-based startup Refinably and the appointment of Leslie Jordan as Chief Product Officer (CPO) highlight its commitment to product innovation and talent acquisition.
- Backflip’s comprehensive product roadmap includes exciting features such as computer vision and machine learning, innovative capital products, and enhanced property assessment tools.
- The company aims to address the housing shortage and affordability challenges in the United States by contributing to the creation of modern, affordable homes.
About Backflip
Backflip is an ambitious real estate fintech platform that aims to tackle America’s housing shortage and affordability challenges. By providing a comprehensive suite of tools and services, Backflip empowers real estate investors to successfully purchase and restore properties, ultimately contributing to the availability of modern, affordable homes nationwide.
Founded in 2021, Backflip has experienced significant growth and success since its inception. The platform has expanded its operations to 41 new U.S. markets, allowing real estate entrepreneurs across the country to leverage Backflip’s cutting-edge technology and financial services to elevate their business operations.
Josh Ernst, founder and CEO of Backflip, expressed his excitement about the platform’s expansion, stating, “We’re thrilled to expand our real estate technology and financial services nearly nationwide so every real estate entrepreneur has access to what they need to up-level their business operations and contribute to a healthier housing market.”
Driving Growth and Innovation
Backflip’s growth is evident through its threefold year-over-year increase, despite challenges faced by the real estate market due to Federal Reserve interest rate hikes in 2022. The platform’s membership continues to grow at a rate of over 15% month-over-month, and its members currently analyze over $2 billion worth of single-family residential investments per month using the Backflip app.
To further accelerate its growth and offer innovative solutions to its users, Backflip has spearheaded an ambitious product roadmap. This roadmap includes the launch of a computer vision and machine learning feature that allows users to analyze properties instantly by using their phone’s camera. Additionally, Backflip plans to introduce innovative capital products such as Buy Now Pay Later, flexible mezzanine products, and capitalized interest structures. The platform also has plans to launch unique features like ‘My Leads’ to streamline property assessments, with availability scheduled for later this year.
Leslie Jordan, a seasoned industry professional with over 20 years of experience, has joined Backflip as its first Chief Product Officer (CPO). Having previously served as CPO at Realtor.com, Leslie brings valuable expertise and leadership to Backflip. In her role as CPO, she will oversee the strategy and execution of Backflip’s product, engineering, and design teams, contributing to the platform’s user experience and technological advancements.
Leslie Jordan commented on the significance of Backflip’s mission, stating, “Backflip is filling a major void in the real estate technology market… residential real estate entrepreneurs deserve access to a technology platform that enables them to scale their real estate business to new heights.”
Acquisitions and Team Growth
As part of its growth strategy, Backflip has completed its first acquisition as a seed-stage startup. The acquisition involved Austin-based startup Refinably, known for its expertise in eliminating workflow issues and enhancing efficiency across tools. This strategic move reinforces Backflip’s commitment to expanding its capabilities and improving its services.
Despite challenges faced by the tech industry during mass layoffs, Backflip has managed to increase its headcount by 300% over the past year. The addition of Leslie Jordan, as well as the co-founders of Refinably, Drew and Austin, has significantly bolstered Backflip’s high-performance team. Their unique perspectives and expertise will play a vital role as the company enters a new phase of growth.
Join the Backflip Revolution
Backflip invites individuals interested in joining its team or learning more about its product offerings to visit dobackflip.com. The platform aims to democratize technology, data, and financing strategies that were previously only accessible to institutional investors and large corporations.
By empowering real estate entrepreneurs with the necessary tools and financial solutions, Backflip is revolutionizing the real estate investment landscape and contributing to the rejuvenation of the housing market.
About Backflip
Backflip is a real estate financial technology company that supports individual entrepreneurs in revitalizing the housing supply by acquiring and renovating single-family homes. The platform offers purpose-built technology and capital products used by its members to source, analyze, and finance residential real estate investments.
To learn more about Backflip and its comprehensive suite of tools and services, please visit the official website at www.dobackflip.com. The Backflip app is available for download on the iOS App Store and Google Play Store.
