L.A. Social Fintech Oro Impact Raises $3M to Launch Housing Platform
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Los Angeles-based social fintech platform Oro Impact raised $3 million in funding led by Slauson & Co., with participation from Northwestern Mutual Future Ventures and Bronze Valley. The company enables employers to offer homeownership and housing wellness as employee benefits.
The funding will be used to bring Oro’s homeownership and housing wellness solutions to market, expand employer adoption and continue advancing the technology to scale housing benefits across diverse workforces.
“Oro is leading a new category by bringing housing support into the workplace at a moment when employers need smarter solutions to attract, retain and stabilize their workforce,” said Austin Clement, partner at Slauson & Co., in a statement.
The announcement coincides with the official launch of Oro’s employee housing wellness platform, which enables companies to offer housing support as a benefit to all employees, whether they are renting, looking to buy or already own.
Oro was founded by George Fatheree, an attorney turned entrepreneur, in 2023 as a public benefit corporation. It is focused on increasing employee access to homeownership and housing wealth by embedding housing support into the corporate benefits ecosystem.
Oro also helps employers develop tailored financial housing support programs to help employees with down payments, closing costs, buying down interest rates or covering mortgage insurance.
The company said in a statement that its turnkey system enables employees to get access to personal housing assistance, rent reporting to boost credit scores, homebuyer education classes, down payment assistance programs, advice and referrals around taxes, insurance and maintenance.
“Home prices continue to peak, and housing is the single largest expense most employees face, yet it remains absent from most benefits strategies,” said Fatheree, in a statement. “Oro’s leading a movement to change that.”
Information for this article was sourced from Oro Impact.
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