Roots Homes, the fractional homeownership pioneer, announced a $2.2 million funding round led by Other Ventures, with participation from Behind Genius Ventures and Waveline VC. Following a successful beta launch late last year, the funds will allow the startup to expand its operations in Las Vegas. Roots’ mission is to make homeownership accessible to Millennials and Generation Z by providing a truly convenient way to buy a home.
By allowing renters to purchase shares in their homes each month, Roots’ fractional homeownership service challenges the all-or-nothing nature of homeownership. Roots will give customers a shopping budget to help them find a home.
Late last year, Roots began onboarding early customers. Trish Vea, their first customer, was found in a Facebook group for Las Vegas residents looking for housing. Vea’s large family was living in an apartment at the time and wished to own a home to give them more space.