HousingWireHousingWire
A startup that wants to help independent real estate agents and brokers manage the logistics of their business is getting a big boost.
RLTYco, a New York-based company that provides services related to commissions, taxes and health care, has secured $20 million in Series A funding with the hope of providing real estate professionals access to their commissions in as little as 24 hours.
The funding gives agents and brokers access to all of RLTYco’s services effective immediately.
“By providing immediate access to capital, alongside game-changing resources, we’re not just supporting our customers — we’re helping to facilitate a new era of entrepreneurship,” said RLTYco cofounder Briggs Elwell in a statement. “We’re immensely grateful for our partners who share our vision of leveling the playing field for independent contractors. With this support, we’re thrilled to expand our services nationwide to every state, all powered by RLTYco’s proprietary fintech platform.”
RLTYco provides four primary services. RLTY Capital acquires pending residential and commercial commissions, allowing agents to access that money on an expedited timeline. RLTY Legal gives users access to LegalZoom for setting up a business. RLTY Tax provides a network of CPAs.
Finally, RLYT Health leverages a partnership with United Healthcare affiliate HealthcareMarkets to provide health benefits.
The funding is led by Altriarch, a credit asset management company that invests in fragmented markets. It also includes capital from existing investors that include angel investor Andrew Dodge, Related Companies’s Christopher Schmidt, and SERHANT. Ventures, SERHANT.’s education division.
“RLTYco uniquely combines fintech, insurtech, and professional services and has an infinite addressable market given their rate of reoccurring clients,” said Altriarch co-CEO Danielle Brown in a statement. “We’re continually impressed by the company’s strategic vision, educational approach to holistic business health for independent contractors and are eager for this next chapter.”
RLTYco was founded in 2021 by Related Companies veteran Briggs Elwell and Daniel Kennedy, managing partner of Kennedy Luce LLC, a law firm in Connecticut.
