Nada Announces Tore Steen as New CEO and President

Author

Slice of Real Estate Team
June 18, 2024

Key Highlights:

  • Tore Steen appointed CEO and President of Nada.

  • Nada secures seed extension funding led by LiveOak Ventures and 7BC Venture Capital.

  • Nada’s mission: Revolutionizing real estate wealth through home equity.

  • Provides homeowners with liquidity without additional debt.

  • Innovative products: Cityfunds and Homeshares.

Source (Business Wire)

Notable Quotes

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“Since Nada's founding in late 2018, our mission has been to unlock the trapped wealth within residential real estate. With the success of our Cityfunds and Homeshares products, we are now in the best position to achieve this mission and grow. Tore’s character, proven track record, and unique expertise make him the perfect leader to guide us through this next phase.”

John Green, Co-founder and Current CEO at Nada
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“I am excited to join the Nada team and build upon their early success in launching new innovative private real estate investment products like Cityfunds. I look forward to the growth potential as we educate individual investors about the huge benefits these direct home equity investment opportunities can bring to their portfolios.”

Tore Steen, New CEO at Nada
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"Tore Steen complements this early success, given his background as a strong operator who has previously built at-scale businesses in an incredibly relevant domain.”

Krishna Srinivasan, Board Member and Founding Partner at LiveOak Ventures

Our Take:

Nada's strategic move to appoint Tore Steen as CEO signals a significant push towards scaling their innovative real estate investment platform. Steen’s experience with CrowdStreet is likely to bolster Nada’s growth, aligning with their mission to unlock trapped residential real estate wealth. With fresh funding from LiveOak Ventures and 7BC Venture Capital, Nada is poised to enhance its market presence, offering a robust solution for both homeowners and investors. This leadership change and financial backing underline Nada’s commitment to revolutionizing the real estate sector through its groundbreaking products, Cityfunds and Homeshares.