LAS VEGAS--(BUSINESS WIRE)--Kingsbridge Wealth Management, a registered investment advisor, today announced that it has committed $100 million to the first financial technology platform – powered by Point – that allows homeowners to unlock their home equity wealth without taking on new debt.
“Kingsbridge is excited to be a capital partner with Point in providing innovative non-debt financing solutions for homeowners,” said David J. Dunn, Chief Investment Officer of Kingsbridge. “Homeowners with substantial home equity now have access to liquidity, without the burdens that come with debt financing.”
From its launch in mid-2015, Point has built a portfolio of home equity investments that have validated both the consumer need for this new product and the appetite that investors hold for this new asset class. Since then the company has expanded its footprint into 13 states and the District of Columbia.
“Home Equity Contracts are an innovative non-debt financing solution for U.S. home owners with substantial equity in their home,” said Dunn. “We are finding that many home equity rich households are looking for access to cash, without the stress and burdens of additional personal debt and debt service.”
Point’s origination volume has grown more than 10x compared with the same period 12 months prior as homeowners look to the company for alternatives to traditional home equity loans, HELOCs, and cash-out refinances. This newest round of investment will support a considerable expansion, making its products available in over 30 states by the end of 2020, and reaching more than 70 percent of U.S. homeowners. The company expects to fund in excess of 1,000 homeowners in 2019.
About Kingsbridge Wealth Management
Kingsbridge Wealth Management is a registered investment advisor that manages alternative investment funds, including the Kingsbridge Alternative Strategies Fund, which invests in Home Equity Contracts. More info at www.kingsbridgealts.com.