A real estate platform raised $10m using this deck

ABOUT

Opendoor is a US-based digital platform that makes real estate-related transactions easier for home sellers and property buyers.

Aside from listing homes for sale, Opendoor also offers to buy property on behalf of prospective buyers who are interested in a listed home but currently face financial barriers. Those buyers are then allowed to pay the amount at a later date.

Founded in 2014, the startup used this pitch deck to obtain series A funding.

Fundraising journey

• 2014: US$10 million in series A money from Y Combinator and Khosla Ventures
• 2015: US$320 million in a series B round led by GGV Capital
• June 2018: US$325 million in series C funding from undisclosed investors
• September 2018: US$400 million series D raise from SoftBank Vision Fund
• 2019: US$300 million in series E capital from General Atlantic, Hawk Equity, SoftBank Vision Fund, Access Technology Ventures, Lennar Corporation, Fifth Wall Ventures, SV Angel, Norwest Venture Partners, NEA, GGV Capital, Khosla Ventures, GV, and other undisclosed investors

How is the deck compelling?

• The deck states upfront what the company is about and establishes its core team’s credibility right away by highlighting their expertise on the second slide.
• It then addresses pain points that Opendoor aims to solve via a three-step digital solution. It also elaborates on its process and the market opportunity.
• the deck presents an easy-to-understand solutions slide.
• The deck also provides more selling points such as its liquidity discount, strong unit economics, and short-term upside.
• It closes out the deck by pointing out the core risks, how the company’s offering improves on existing models, and outlining how Opendoor plans to use the investment.

SOURCE

Deck: Twitter