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Orchard
Fintech
Orchard is a New York-based real estate technology company that helps homeowners buy a new home before selling their current one, using a cash-backed buying program to remove the contingency of a traditional home sale.
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Orchard was founded in 2017 by Court Cunningham, Randy Allen, and Randy Diamond, based on the observation that many homeowners looking to move into a new home face a difficult sequencing problem: most buyers need the proceeds from selling their current home to help fund the purchase of a new one, but making an offer on a new home contingent on first selling their existing home puts that buyer at a significant competitive disadvantage relative to other buyers who can make a non-contingent offer, particularly in competitive housing markets where sellers often prefer offers without this kind of sale contingency uncertainty. Orchard's core product lets homeowners make a non-contingent, cash-backed offer on a new home before they've sold their existing home, with Orchard providing bridge financing or, in some program variations, purchasing the customer's existing home directly if it doesn't sell within a specified timeframe through more traditional listing channels, removing the sale contingency that would otherwise put these buyers at a competitive disadvantage against other buyers in the market. This approach addresses a genuine structural challenge in the traditional home buying and selling process, where the sequencing of selling an existing home and buying a new one creates either financial risk, if a buyer commits to a new home purchase before their existing home sells, or competitive disadvantage, if a buyer's offer is contingent on their existing home selling first, a tension Orchard's cash-backed buying program is designed to resolve by giving customers access to the buying power typically only available to those who have already sold their prior home. The company has built technology supporting its home search and selling processes, including tools that help customers search for and evaluate potential new homes and manage the sale of their existing property. Orchard operates primarily in select U.S. metropolitan markets rather than nationally, reflecting the more geographically concentrated, capital-intensive nature of its cash-backed buying and bridge financing business model. The company has raised substantial venture funding from investors including Revolution, Firstmark Capital, and Accomplice, reaching a valuation exceeding $1 billion, competing with other "buy before you sell" real estate technology programs.
FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement. Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. "Investment accounts" are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Neither Augment Advisors, LLC nor Augment Capital, LLC provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC's Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.
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