Michael Gifford and David Zvaifler‘s home equity investment company, Splitero, lost its main investor, Redwood Trust, HousingWire has learned.

According to an internal presentation deck, the startup had secured more than $1 billion in committed capital. Out of that figure, $750 million was supposed to come from Redwood, representing 75% of the total capital. Atalaya committed $250 million while Kingsbridge put up $50 million. A source who received the deck from Splitero provided it to HousingWire on the condition of anonymity. 

In September, Redwood launched its in-house home equity investment (HEI) origination platform called Aspire. details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com