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Backflip
Real estate financing technology
- 101-200 employees
- Fintech
- B2B
- Real Estate
- Civic Center, Denver, CO
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Company mission
To empower entrepreneurs to revitalize homes, so people can love where they live.
Few candidates hear
back within 2 weeks
Our take
Flipping houses, despite its allure, poses significant challenges, especially when it comes to securing financing and navigating the complexities of real estate investments.
Enter Backflip, a startup founded in 2020 which addresses these challenges. It offers a streamlined approach to borrowing money for short-term real estate investments. The company not only facilitates financing but also leverages technology to assist investors in sourcing, tracking, and evaluating potential investments.
Despite entering the market during a period of surging interest rates, Backflip has achieved remarkable growth, boasting impressive annualized revenue and nearing profitability. With its impressive debt funding round in 2024, the company is ready to revolutionize the fix and flip industry further, offering a Residential Transition Loan ( RTL) solution that could help reshape the real estate investment landscape.
Kirsty
Company Specialist at Welcome to the Jungle
Benefits
- Backflip Equity: Backflip offers generous employee ownership equity packages. We firmly believe that we are all owners and treat everyone as such
- Health and Wellbeing: Backflip offers 100% coverage health benefits for employees and their families, plus available dental, vision, and life insurance
- Company Offsites: We hold team retreats every quarter for fun productive work time! Past trips have been to Crested Butte, CO, Dallas and Austin, TX, Park City, UT and New Orleans, LA
- Time Off: We want people to take time off to rest and rejuvenate. Backflip offers unlimited paid vacation and the ability to remote work from anywhere
- Parental Leave: Our founders have each had two children within the first two years of starting Backflip and understand the importance of time spent with family
- Tools: You’ll receive a stipend for new equipment including a laptop, monitor, desk and other accessories you need to do your best work. Plus, cellular plan monthly credits
- 401(k) + Match: All employees are eligible to participate in Backflip’s 401(k) retirement savings plan, which includes a company match on initial contributions
Company values
- Raise the standards of what is possible: Our members are raising their standards: they deserve a company that does, too. Steve Jobs had just two classifications: things were either ‘insanely great’, or ‘total shit’. Work that matters has no middle ground. Backflippers relate to this way of thinking. Don’t we all want to be ‘insanely great’?
- We embrace being the novice so we can become the master: We all start new endeavors as beginners. We may make mistakes, which is ok, as mistakes help us to grow in our journey to becoming the master. We learn from the giants, as we seek to identify battle-tested ideas and practices that have demonstrated their resiliency over time. At Backflip, we enter challenges and opportunities with curious minds, and ask questions, freely and without judgment
- Work only with those who want the best for us: As the cliché goes: we refuse to work with assholes. We want business to be fun! Success depends on our blend of deep caring, effort, and optimism. We’re energized to work together with “our people” toward our best work
- Communicate quickly, naturally and with radical candor: We value direct communication. The optimal approach is sharing, with quick, concise, everyday language - for good news, bad news, responsibilities, plans, and decisions. Feedback is core to our culture, always given in service of helping each other grow and get better
- Today, nah, Now!: Speed matters. In the finite realm of time, we relentlessly compress cycles, amplifying time through proactive, purposeful actions. Our commitment to urgency propels exponential progress. No room for apathy or complacency; being willing is not enough: we must do. Today, never tomorrow — Today, nay, now!
- We test new things to invest and challenge the status quo: We use trial-and-error as a way to invent. In the freedom to choose from maximum options we discover novel approaches and capture large upsides. Many of history’s greatest inventions were misperceived at first. We have the resiliency to stand by the testing framework even against those stuck in the status quo
Funding (last 2 of 3 rounds)
Oct 2024
$30m
EARLY VC
Apr 2024
$15m
SERIES A
Total funding: $53m
This company has top investors
Leadership
Joshua Ernst
(CEO & Co-Founder)Co-founded urBin where they served as the CEO. Was also a Principal at Revel Partners and COO at Trelly.
Jake Rome
(COO & Co-Founder)Previously a Senior Vice President at Sentral and Ascentris. Before that, they worked at Amstar Group in several Analyst/Associate roles.
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Software Engineering
Sales & Account Management