In a significant blow to home equity investment company Splitero, its main investor Redwood Trust has decided to pull out, leading to potential financial setbacks for the company. Sources have confirmed that Michael Gifford and David Zvaifler, co-founders of Splitero, are now faced with the task of finding a new investor to ensure the company’s continued operations.
• Redwood Trust withdraws investment: Splitero, a home equity investment company co-founded by Michael Gifford and David Zvaifler, has lost its main investor, Redwood Trust. This development puts Splitero’s financial stability at risk.
• Splitero seeks new investor: With the departure of Redwood Trust, Splitero is now actively looking for a new investor to inject capital into the company. This search is crucial to maintain financial stability and ensure the company’s operations continue smoothly.
• Uncertain future for Splitero: Losing its main investor can have severe implications for Splitero’s ability to fund future deals and expand its business. The departure of Redwood Trust raises concerns about the company’s overall viability going forward.
• Michael Gifford and David Zvaifler’s leadership: As founders of Splitero, Gifford and Zvaifler face the challenge of finding a new investor who believes in the company’s vision and is willing to contribute capital to support its operations.
• Impact on the home equity investment industry: The loss of an influential investor like Redwood Trust may also have broader implications for the home equity investment industry as a whole, potentially prompting others to reassess their investment strategies and risk tolerance.
While Splitero’s future hangs in the balance, the company’s ability to secure a new investor will be critical to navigate these challenging times and maintain its position within the industry.
You can read this full article at: https://www.housingwire.com/articles/home-equity-investment-firm-splitero-loses-main-investor-750m-in-committed-capital/(subscription required)
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