San Mateo, California, August 24, 2022 /PRNewswire/ — TrueThe real estate and fintech platform that revolutionized home buying and selling has announced that it will begin discontinuing its services today. September 9, 2022.
Co-founder and Chairman of the Board Amit Haller was one of the pioneer companies to offer “Buy Before You Sell” and “Cash Delivery” programs to homeowners. We believe deeply in putting the consumer at the forefront of every transaction. Reilly has spent six years improving the prop-tech market California It helped elevate and transform the industry.”
With difficult real estate and financial market conditions and an unfavorable capital-raising environment, Reilly decided the best course of action was to close. Active real estate transactions will continue to be supported by a small team of staff through the end of the year. Reilly is in ongoing discussions with companies that have expressed interest in acquiring certain parts of its business, including mortgage origination, title and fraud, and power buying.
“We’ve had an amazing six-year run of exciting homeowners,” he said. Tyler Baldwin, CEO of Riley. “We want to extend our sincere thanks to the thousands of homeowners who have trusted Riley in their home ownership journey, the Riley team, our investors, and the thousands of homeowners who have worked alongside us. It has been a pleasure serving our community.”
Riley was launched in 2016 and is a real estate and fintech company that creates a one-stop shop to make home ownership streamlined, accessible and stress-free at every stage. We use first-of-its-kind technology and trusted real estate professionals to serve home buyers, borrowers and sellers through a single, integrated platform. Our wide range of alternative financing solutions make complex processes like buying and selling very simple at the same time. Customers can buy and sell in one integrated transaction, eliminating resale contingencies, moving twice and paying off two loans at once.
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