Tech-Enabled Real Estate Brokerage Houwzer Has Acquired Competitor Trelora

The addition of some new executives comes alongside a B2B operation for Houwzer, which will focus on a new vertical that the company calls “brokerage as a service.”

Tech-forward real estate and mortgage brokerage Houwzer, which got its start in 2015 in Philly and has expanded to neighboring states, has acquired next-gen brokerage Trelora.

The news comes amid a year of growth for Houwzer. The Center City-HQ’d company raised an $118 million Series B early this year, a mix of $18 million in equity and a $100 million warehouse line of credit, led by Edison Partners. It had plans to launch three new consumer products, the company said then: Cash Advantage, Convenience Offers and Buy Before You Sell. It also launched the RiseUp Fund in April, a nonprofit to bring grants and resources to low- to moderate-income first-time homebuyers.

And with this acquisition, it now adds Trelora’s flat-fee, full service real estate offerings to its portfolio. Houwzer CEO Mike Maher said in an emailed statement that he’d been in contact with Trelora, based in Denver, since 2018. Though they were a direct competitor, he saw them as a “sister company” also looking to disrupt the real estate industry.

“This is a material inflection point for Houwzer,” Maher told Technical.ly. “We see an opportunity to innovate, build, and scale a transformational enterprise serving customers during this seismic market shift.”

The acquisition expands Houwzer’s footprint to 14 states. It currently operates in Delaware, Florida, Maryland, New Jersey, Pennsylvania, Virginia and DC, and it adds Arizona, California, Colorado, Georgia, North Carolina, South Carolina and Washington.

Read the full article here.

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