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Khosla’s Keith Rabois leads $11.5M Series A for startup Roam, calls it ‘the future of the housing market’
- Roam is a startup aiming to provide access to homes with assumable mortgages, helping buyers save on high mortgage rates.
- Founded in September 2023 by CEO Raunaq Singh, Roam facilitated $200 million worth of home sales in 2024.
- Roam charges buyers 1% of the purchase price and aims to save buyers up to 50% on monthly payments.
- The startup currently operates in 17 states and plans to be nationwide by the end of the year.
- Keith Rabois of Khosla Ventures believes Roam is the 'future of the housing market' and led an $11.5 million Series A funding.
- Roam aims to address the affordable housing crisis by reducing buyers' monthly payments and bringing sellers with low-rate mortgages to the market.
- The startup raised a total of about $16 million across three rounds, with participation from Keith Rabois and Founders Fund.
- Roam speeds up the process of becoming a homeowner, aiming to close assumable mortgages in 45 days compared to the typical 180 days.
- Roam has 12 employees and plans to continue growing while focusing on revenue growth.
- The opportunity for Roam lies in the $1.4 trillion of fully assumable FHA/VA mortgages originated in 2020 and 2021.
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