Backflip, a leading real estate FinTech platform transforming how investors access and deploy capital, today announced its strategic evolution into a tech-enabled asset manager. The vertically-integrated platform provides technology and capital solutions to residential real estate investors through its captive loan originator and servicer. Backflip’s newly-formed subsidiary (Backflip Asset Management, LLC) has approximately $175 million in assets under management.
In support of this strategy, the company raised $10 million in corporate equity this year from existing investors including FirstMark Capital, LiveOak Venture Partners, and Vertical Venture Partners. Concurrently, Backflip announced a new leadership structure, with Jake Rome promoted to Chief Executive Officer, which became effective in July 2025. Jake Co-founded the company in 2020 with Josh Ernst, and had previously served as Backflip’s Chief Investment Officer and Chief Operating Officer.
“This evolution represents a pivotal next step in Backflip’s journey,” said Jake, CEO. “We are responding to the significant demand from institutional private credit investors. By aligning our technology and capital, we are creating a new, more efficient model to deploy capital into single family investment strategies, which are notoriously difficult to access at scale. I am excited to lead our talented team as we build a best-in-class platform designed to deliver durable returns to our capital partners.”
This evolution builds on a period of growth. Backflip’s origination subsidiary has funded approximately $700 million in residential transition loans (RTL), and its servicing arm manages a portfolio of over 1,200 loans. The company recently launched a rental loan product (DSCR), and is piloting other capital solutions for investors including HELOCs and Home Equity Agreements (HEA).
As part of its platform expansion, Backflip also announced the promotion of Richard Porteous to Chief Investment Officer. Richard was previously the firm’s VP of Capital Markets and Portfolio Manager.
“Richard’s leadership will be integral as we expand our asset-backed investment strategies and grow assets under management,” continued Jake.” The launch of our rental loan product is a prime example of this strategy in action, allowing us to quickly scale a high-demand product.”
The equity raise positions Backflip for continued growth, and facilitates technology investments to scale the origination, servicing, and asset management functions.
