REZI secures $100 million from Stratos to expand nationwide

New York, NY REZI, a real estate technology company offering "Occupancy-as-a-Service" for rental property owners, has secured $100 million in debt financing from Stratos Credit, according to Sean Mitchell, CEO & co-founder at REZI.

This funding comes at a time of growth at REZI, which has expanded into several new markets across the country, including Los Angeles, San Francisco, and most recently, Austin, after securing a deal with Rastegar Property Company to lease-up over 200 vacancies across nine of the firm’s developments.

"Stratos has been a core strategic partner of REZI since 2017. This facility marks the next phase in our relationship and the beginning of a new and exciting time at REZI as we expand our service across the country and launch more products for property owners, investors, and renters alike" said Mitchell. "REZI has always envisioned a frictionless rental market, where property owners and renters can transact instantly and in a way that’s truly fair to both sides. Having a partner by our side like Stratos has been essential to begin to turn that vision into a reality."

REZI will leverage this new $100 million in capital to expand their offerings to more property owners in existing and new markets. REZI uses sophisticated technology including machine learning algorithms to accurately predict rent prices, vacancy timelines, and credit losses. The company then uses those insights to guarantee leasing performance for property owners who work with REZI.

"REZI's innovative business model is exactly what Stratos strives to invest in. We’re excited to partner with companies that solve big problems using disruptive technologies. Betting on REZI has been an easy decision, and their strong performance for Stratos Credit the last several years has only strengthened our conviction," said Jordan Teramo, managing partner of Stratos Credit.  "We're honored to partner with a company that’s solving some of the toughest problems that residential real estate faces today and are eager to see them utilize this new facility to continue their skyward trajectory."