Dealflow | August 24, 2020

Affordable housing startup PadSplit closes $10 million

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, August 24 – Atlanta-based PadSplit manages single-family homes, renting out individual rooms to make housing affordable for low-income families. The company, which launched in 2017, manages more than 1,000 units in Atlanta for tenants earning less than $35,000 a year.

A $10 million Series A financing round will help it expand to Houston and other markets, AtlantaInno reports. Earlier investors Core Innovation Capital, Kapor Capital, Impact Engine and Cox Enterprises reupped, and were joined by Alate Partners and Citi.