The crowdfunding platform Movoto has raised $2.7 million in funding from more than 10,000 investors.
In addition to the $1 million in the first round, Movoto says the company will be working with “other partners” to build out its home-buying platform.
Movoto was founded in 2017 by Alex Levitt and has raised more than $1.5 million to date.
Levitt previously served as the chief operating officer of HomeAway, a San Francisco-based startup that lets homeowners search for homes in their area.
Levatt said in an interview with CNNMoney that Movoto aims to be the platform for home buying for consumers, rather than for investors.
“Investors have a huge interest in our products, and the opportunity to work with us to create a platform for consumers is huge,” Levitt said.
“We’re going to build a new kind of platform for people who want to make decisions about home ownership.”
Levitt added that Movo’s mission is to make sure that consumers can make decisions on home ownership, rather from a financial perspective.
“This is a technology that has potential to be transformative for the home,” he said.
Movo says it is working with investors in an effort to “deliver an affordable home for everyone.”
Movoto’s home-selling platform has been available for more than a year, and Levitt says it was originally designed to help buyers find homes that meet their needs.
“Our mission is not to offer a platform that provides a solution to every problem,” Levatt told CNNMoney.
“It’s to make it possible for every person to make the best decision they can.”
Levatt added that it’s not uncommon for investors to use crowdfunding platforms for home purchases because it’s cheaper and easier to do so than traditional methods.
The platform is designed to give users a better sense of the market than traditional home buying.
The company says it can make a difference by helping buyers find the right home.
Levitatt added: “In the end, when you’re building your portfolio, it’s your choice.
It’s your responsibility to decide which home you want to buy.
But if you’re in a situation where you can’t make a purchase because of affordability, we want to help you make that decision.”