Patch Homes has officially launched after operating in private beta; the platform seeks to allow homeowners to greater utilize the equity in their homes; by offering investment versus a home equity loan, homeowners contract with Patch Homes for capital proceeds that can be used for any type of financing needs; Patch Homes then shares in the gains and losses on the home’s value over the contracted timeframe; Patch Homes has identified a $4.5 trillion home equity market in the US; along with its launch it also announced $1 million in fundraising to support its growth and to expand its offering beyond California. Source
