{"id":823880,"date":"2025-02-02T12:12:04","date_gmt":"2025-02-02T18:12:04","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/02\/easyknock-facing-fire-on-multiple-fronts-abruptly-shuts-down\/"},"modified":"2025-02-02T12:12:04","modified_gmt":"2025-02-02T18:12:04","slug":"easyknock-facing-fire-on-multiple-fronts-abruptly-shuts-down","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/02\/easyknock-facing-fire-on-multiple-fronts-abruptly-shuts-down\/","title":{"rendered":"EasyKnock, facing fire on multiple fronts, abruptly shuts down"},"content":{"rendered":"
\n

Residential sale-leaseback platform EasyKnock<\/a><\/strong> has abruptly shut down its operations after facing scrutiny from state regulators and being under fire<\/a> from disgruntled consumers.\u00a0<\/p>\n

\u201cAfter many years of serving consumers, EasyKnock has closed its doors,\u201d a message on the company\u2019s website states. \u201cWe are deeply grateful for the trust placed in us to be part of the financial journey of so many. While EasyKnock may no longer be around, arrangements have been made to ensure continued services for our customers.\u201d\u00a0<\/p>\n

New York-based EasyKnock\u2019s business model allowed homeowners to sell their properties to the company but remain as renters while receiving cash for their financial needs.\u00a0Jared Kessler<\/a> founded the fintech in 2016 and has since raised money from several venture capital firms.\u00a0<\/p>\n

In February 2024, the company closed a $28 million Series D<\/a> funding round from new and existing investors, including Gaingels<\/strong>, Moderne Ventures<\/strong>, QED Investors<\/strong> and Zillow<\/a> <\/strong>co-founder Spencer Rascoff. This followed a $57 million Series C<\/a> round in February 2022. In 2018, the company raised $3.5 million in seed funding, including $100 million in new debt.\u00a0<\/p>\n

An acquisition spree followed. The company closed deals with struggling power buyer<\/a> firm Ribbon<\/strong> in May 2023, home maintenance company<\/a> Onder<\/strong> in September 2023, home equity investment firm<\/a> Balance Homes<\/strong> in December 2023 and home equity investment firm<\/a> HomePace<\/strong> in May 2024.<\/p>\n

But the company came under the scrutiny of state regulators in December 2023. That\u2019s when Massachusetts Attorney General Andrea Joy Campbell announced a settlement <\/a>with EasyKnock for what her office alleged were deceptive practices that stripped consumers of their home equity.\u00a0<\/p>\n

According to the claims, the firm was purchasing homes of \u201ccash-strapped consumers at bargain-basement prices and then renting them back to the consumers, at times for unfair rents,\u201d in violation of the state\u2019s consumer protection law.\u00a0\u00a0<\/p>\n

After that, consumer lawsuits were filed in Texas, Maryland, South Carolina, Pennsylvania and Ohio. Actions from state regulators were taken in Massachusetts, Michigan and Connecticut.<\/p>\n<\/p><\/div>\n

Fl\u00e1via Furlan Nunes
Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Residential sale-leaseback platform EasyKnock has abruptly shut down its operations after facing scrutiny from state regulators and being under fire from disgruntled consumers.\u00a0 \u201cAfter many years of serving consumers, EasyKnock has closed its doors,\u201d a message on the company\u2019s website states. \u201cWe are deeply grateful for the trust placed in us to be part of<\/p>\n","protected":false},"author":1,"featured_media":823881,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141374,22915],"tags":[141373,5905],"class_list":{"0":"post-823880","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-easyknock","8":"category-facing","9":"tag-easyknock","10":"tag-facing"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/823880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=823880"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/823880\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/823881"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=823880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=823880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=823880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}