NBA Player from Westtown School Invests in Locally-Based Digital Real Estate Brokerage
Westtown School graduate Mo Bamba, a center with the NBA’s Orlando Magic, is putting his money behind Houwzer, a digital real estate brokerage based in Philadelphia, write Alex Soderstrom and Michelle Caffrey for the Philadelphia Business Journal.
Using investment firm Admiral Capital Group, Bamba joined in Houwzer’s $9.5 million Series A earlier this year. The news follows the announcement that Houwzer is expanding into Orlando, where it plans to hire around 20 people over the next two years.
The company’s platform helps walk buyers and sellers through the home sale process. It has a staff of salaried agents, which allows them to focus on the customer experience instead of commissions. The company charges a $5,000 listing fee that is paid at closing and 2.5 percent for the buyer’s broker.
For each sale, Houwzer will put $100 into its RiseUp Fund meant to help underserved groups with down payments and assistance with closing costs.
Making homeownership more accessible was one of the reasons why Bamba decided to invest in Houwzer.
“Houwzer is changing the real estate industry to work better for everyone and make homeownership attainable for all,” he said.
Read more about Mo Bamba in the Philadelphia Business Journal here.
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