Potomac-based home improvement financing platform Curbio, announced Tuesday a $25 million credit facility and new banking relationship with Cambridge Trust. This news comes after Curbio raised a $65 million Series B earlier this year, bringing the company’s total 2022 capital to $90 million.
Selling a home isn’t easy, especially if the property needs repairs. Curbio’s platform allows homeowners to renovate their homes and then pay for repairs after the sale of the house closes. Users can also find everything they need to renovate their home from labor, materials and proposals right on the app and get visual updates as the project progresses.
“Curbio is taking an outdated and broken home improvement process and completely re-inventing it to benefit real estate agents, their home seller clients and the broader subcontractor market,” Curbio CEO Rick Rudman said in a statement. “Everyone wins in this model, and we’re thrilled to have Cambridge Trust join the rest of our experienced, high-quality investors, to support our transformation of the $80 billion pre-sale home improvement industry.”
Curbio plans to use its new funds to expand its market reach, invest in product development and support topline growth.
In addition to the funding announcement, Curbio also ranked at no. 790 Tuesday on the Inc. 5000 list of fastest-growing companies. Other D.C. tech companies on the list include RP Professional Services, Integrated Management Strategies and OneZero Solutions, among others.