- HIVE 50 CATEGORY: CAPITAL
Earlier this year, Fundrise pioneered its solution to the affordable housing crisis with Fundrise eFunds—portfolios of for-sale housing concentrated in high-growth urban areas. Investors who buy shares of these eFunds can finance the construction or renovation of these homes, cutting costs and improving supply for first-time buyers. Launched by CEO and co-founder Ben Miller, Fundrise aims to turn its investors into advocates for affordable housing, and to enable at least a portion of its investors to become homeowners in the communities they helped build. Its Homebuyer Investor Program (HBI) allows its investors “first look” purchasing access to the homes in its system.