Foyer Raises $6.2M to Revolutionize Homeownership in America

Foyer, a home savings startup based in New York City, has successfully completed a $6.2 million round of seed funding. The round was led by Alpaca VC and Hometeam Ventures, with other notable participants including Animo Ventures, Resilience VC, Accion Venture Lab, Detroit Venture Partners, and Clocktower Ventures. The fundraising aims to advance Foyer's mission of assisting first-time home buyers at a time when home prices are extremely high. The company is introducing innovative products like the First Time Homebuyer Savings Account (FHSA), which offers competitive interest rates, potential state tax advantages, and rewards match on savings, to facilitate this process. Foyer has also established collaborating partnerships with industry leaders such as Rocket Mortgages and Anywhere Real Estate. Founder Landy Liu, who has firsthand experience in home finance challenges stemming from fluctuating mortgage rates during the pandemic era, leads the startup. Prior to initiating Foyer, Liu held senior management roles at Better.com.