EasyKnock Extinction: Quick rundown on just-shuttered home-sale leaseback proptech

• '16: Founded by Jared Kessler, Ben Black
• Pitch: Targeted middle-class homeowners w/ promise of "unlocking equity" - you get cash for your home, but get to stay in it. Firm makes money through rent + a basket of fees
• Summer '20: Raised $20M Series B: "From my bedroom, with Covid, I was able to raise $20 million," Kessler said. “If I can do that, I feel like I can do most things.”  
• Feb '22: $57M Series C- “Rent is a function of inflation, and wages are not going up as much as pricing," Kessler says. Firm will expand into farmland deals  
• May '23: Acquires power buyer/cash offers startup Ribbon
• Investors include: Spencer Rascoff's 75&Sunny, Moderne Ventures, QED
• March '24: Raises $28M Series D led by Northwestern Mutual. Says Kessler: “Our driving mission – empowering families with financial flexibility and control – is bolstered with this capital investment"  
• Summer '24: NPR investigation finds pattern of EasyKnock sellers who ended up worse off after the deal: buybacks were uncommon, some even found themselves evicted; Michigan AG warns firm abt. "misleading marketing"
• Dec. '24: EasyKnock shuts down - "We are deeply grateful for the trust placed in us to be part of the financial journey of so many."