Jay-Z and Will Smith back rent-to-own firm in $165M round

A startup that helps renters build credit until they can buy a place is raising $165 million from a group of investors that includes Sequoia Capital, Jay-Z’s Roc Nation and Will Smith’s Dreamers VC.

Landis Technologies, founded by Cyril Berdugo and Tom Petit, caters to would-be homeowners who can’t afford to buy. The company purchases a house and rents it to the client until they can qualify for a mortgage. The client can buy it back at a predetermined price up to two years after the initial acquisition.

The model is a new spin on a rent-to-own strategy that has been employed by other companies including Home Partners of America,

→ Continue reading at Crain's New York Business

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