TLDR:

• Nada, a Dallas-based proptech platform, appoints Tore Steen as new CEO and president.
• The company secures additional seed funding in a round led by LiveOak Ventures and 7BC Capital.

Nada Names Board Member as New CEO, Secures Additional Seed Funding

Nada, a Dallas-based investment proptech platform, has announced the appointment of Tore Steen as its new CEO and president. The company has also secured additional seed funding in a round led by repeat investors LiveOak Ventures and 7BC Capital. This funding round will allow Nada to continue its mission of unlocking the trapped wealth within residential real estate through its Cityfunds and Homeshares products. The platform bridges homeowners and investors through home equity, offering homeowners immediate liquidity without the burden of additional debt or monthly payments in exchange for a fraction of their home’s future equity.

Tore Steen brings over a decade of experience in the real estate tech investment sector, previously serving as the CEO of CrowdStreet. He expressed excitement to join the Nada team and build upon the success of its innovative private real estate investment products. Nada co-founder John Green will transition to the role of chief operating officer, expressing confidence in Steen’s leadership and vision for the company’s growth. Investors like Krishna Srinivasan from LiveOak Ventures are optimistic about Nada’s potential to become a market leader in the intersection of retail investing and proptech.

Nada’s mission is to make the $30 trillion home equity market accessible to individual investors and homeowners, offering a unique opportunity for both parties to benefit from home equity investments. With Steen at the helm, the company is poised for further growth and expansion in the real estate investment space.