Charlotte-based Ribbon Raises $225M

10/28/18

By Rebecca Ayers, NCBIZNews

Ribbon, a technology startup, raised $225 million to help fuel national expansion, the company announced.

Ribbon will expand into 10 new markets by the end of 2019 and has already expanded into Charlotte, Cary and Asheville, according to a release. Ribbon is based in Charlotte.

The company has newly personalized home valuation, a mobile experience for realtors and a new pricing model that’s free to buyers.

“We were able to close on our house on time with Ribbon,” said Jason Lottman, a Charlotte-homeowner who recently closed with Ribbon. “Their fully approved cash offer in hand gave us the buying power we needed to beat out other buyers.

“They bring buying power to the common family and overall, they’re an awesome organization from top to bottom and I highly recommend using them,” he said in a press release.

Ribbon directly backs homebuyers and Realtors with Ribbon Offer, an all-cash and guaranteed to close. It makes buyer affordability and home valuations fully approved on the same day.

The company partners with Realtors and buyers and is releasing new products to drive a seamless home-buying experience.

Shaival Shah is a co-founder and the chief executive officer of Ribbon. He also is a board member of and tech advisor to multiple companies, such as YouNow, a live video streaming platform, and Clarus Commerce, a commerce subscription service.

Shah has a Bachelors of Science in biochemistry from the University of California, Berkeley.

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