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Jay-Z & Will Smith Invest In Startup That Helps Low-Income Renters Become Homeowners

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Jay-Z & Will Smith Make investments In Startup That Helps Low-Earnings Renters Change into Owners

Jay-Z and Will Smith are teaming as much as assist renters grow to be householders.

The Grammy-winning rapper and legendary actor have joined forces to spend money on startup Landis Applied sciences. The New York primarily based firm’s mission is to assist those that are renting buy a house.

Jay-Z joined the group of buyers through Roc Nation whereas Will Smith contributed beneath Dreamers VC. They’re two of a number of buyers that introduced in a complete of greater than $165 million.

The cash will assist purchase roughly 1,000 houses, which Landis Expertise will hire to low-income households till they’re authorised for a mortgage, based on Bloomberg. 

Its purpose is to assist 80 p.c of its renters buy a house within the first two years with particular coaching packages on budgeting and bettering their credit score rating.

Co-founder Cyril Berdugo mentioned in a press release:

“Monetary inclusion is basically essential to us. A facet of Landis that we’re very proud to be part of is wealth creation for low-income People. We become profitable when our shopper buys the home again. If we depart cash on the desk, that’s our drawback.”

This isn’t the primary time Jay-Z and Will Smith have invested in an organization collectively. In 2019, they invested in Hipcamp, a platform taht referred to itself because the Airbnb of tenting.

What are your ideas on Jay-Z and Will Smith’s newest funding? Remark and tell us.

https://thejasminebrand.com/2021/07/30/jay-z-will-smith-invest-in-startup-that-helps-low-income-renters-become-homeowners/ | Jay-Z & Will Smith Make investments In Startup That Helps Low-Earnings Renters Change into Owners

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