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Doorvest Enhances Platform with Getaway Acquisition for Investors

Proptech

Doorvest, Acquires, Getaway, Real Estate

Business Honor
10 September, 2024

Doorvest acquires proptech company Getaway to enhance real estate investment solutions and expand across the U.S.

Real estate investing platform Doorvest has announced the acquisition of proptech company Getaway, a crucial player in real estate investment with a focus on facilitating investors in searching and financing for properties. In doing so, Doorvest seeks to strengthen its mission of streamlining property investments and making passive income generation feasible for busy professionals.

Integration of Getaway's financing products into its services is how Doorvest is further enhancing its end-to-end platform to allow a single, comprehensive experience to source, finance, and manage rental properties in an effortless manner. The resulting vertically integrated solution will cover all parts of the property investment process-transaction to management-benefiting customers with one-stop, all-encompassing experience.

Andrew Luong, co-founder and CEO of Doorvest, expressed enthusiasm about the merger, saying, “Through our partnership with Getaway, we’ve had a front-row seat to the team’s ability to build effective financing solutions. With this acquisition, we’re accelerating our mission to offer streamlined, fully integrated services to investors, helping them achieve financial security.”

This also speeds up the launch of Doorvest's new lending product, which will be rolled out later this year. This would enable Doorvest to offer more comprehensive investment solutions. By bringing together Doorvest's property management platform with Getaway's massive network of more than 34,000 investor customers, the company aims to become the go-to platform for Americans looking to build wealth through real estate.

Ali Nichols McCarty co-founded Getaway and today is the COO of Doorvest. "Together, we are streamlining the investment process and making real estate investing more accessible." Through the combined company, it will expand throughout the US, creating even more diversification options for investments and access to profitable opportunities in real estate.

Getaway, which was launched in 2022, focuses on fractional ownership of properties from as little as $1,000 and has already raised $5.9 million in seed funding.