Nada, a real estate technology company that turns homeowner equity into investment, announced its new 4,230 sq. ft. headquarters within the Design District of Dallas, according to a press release.
The new headquarters will be located at 1315 Manufacturing Street in Dallas. The company says it chose the location to set down roots in the growing northern Texas proptech market and is planning to use the larger location to expand its team count and provide job growth opportunities.
“The Dallas area has a rich history of producing and attracting top talent in both the real estate and finance fields. This is the perfect location to start a hybrid proptech/fintech company,” stated Sundance Brennan, VP of sales for Nada, in the release.
Nada currently employs and contracts over 50 people in the Dallas area (with a currently 1,600 sq. ft. startup location), and has committed to growing its headcount to 80. It says these positions will largely consist of customer service, software development and sales roles, with most hires being full time.
The company aims to unlock the $23 trillion home equity market for retail investors and homeowners. They accomplish this by allowing investors to use their home equity via a debit card, and enable the buying and selling of fractionalized shares of a city’s real estate market.
It also stated that hires will be able to participate in the Nada Cityfund, which was launched in June 2021 and offers fractional homeownership investment.
This new headquarter news follows Nada’s recent $530,000 seed fundraising round in October 2021, which brought its total funding to $3.4 million across six rounds. Investors include Capital Factory Ventures, Insight Capital, VM Ventures and the University of Texas at Austin.
In other recent proptech news, construction startup OpenSpace reached a valuation of $902 million with a recent $102 million Series D. MyPlace also raised $5.8 million for its new private home social network.