Teachers are notoriously underpaid and buying homes is notoriously expensive. This is where Landed, which just raised a $7.5 million Series A round led by Initialized Capital, comes in.
Landed helps educators buy homes by providing them with down payment assistance. That’s because many teachers leave their jobs due to a lack of stable housing. In Berkeley, Calif., for example, more than half of the school district’s employees reported they considered leaving because of the high costs of housing.
“Our mission is to help these people build financial security and help them remain committed to their communities,” Landed co-founder Alex Lofton said. “We try to stay flexible to peoples realities. We don’t require people to buy in any particular city.”
To date, Landed has helped