Homeward raises $120 million Series D led by Saluda Grade, adds $330 million in asset-backed debt

Homeward, which operates a cash-backed home-buying platform alongside its Homeward Mortgage and Homeward Title businesses, announced October 1 that it raised $120 million in Series D equity financing led by Saluda Grade, an alternative investment firm focused on asset-backed credit.

Alongside the equity round, Homeward said it secured $330 million in new asset-backed debt facilities, which the company said will be used to fund home purchases made through its platform.

Homeward's model lets home sellers accept a cash offer backed by the company's own capital, intended to let them compete with all-cash buyers in a purchase before the seller separately secures permanent mortgage financing — a structure that depends on Homeward's continued access to both equity and debt capital to fund the underlying transactions as they close.

The company has not disclosed its valuation following the round, the full list of participating investors beyond Saluda Grade, or transaction-volume figures for its cash-offer and mortgage businesses.

The financing lands in a mortgage and real estate market where affordability and inventory have remained persistent constraints, and where several venture-backed cash-offer and iBuying models have struggled or wound down in prior cycles. Homeward's reliance on continued access to debt facilities to fund each transaction ties its growth to credit-market conditions as much as to consumer demand.