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The Real Brokerage, an international brokerage firm, has acquired home lending platform LemonBrew Lending for $1.25 million, adding mortgage lending services to Real’s portfolio.
Real acquired 100% of the shares of LemonBrew for $1.25 million, paid $800,000 in cash and $450,000 in NASDAQ shares, offered at $1.279 each.
The deal was first announced in September, along with a statement that would allow Real Brokerage to add mortgage offerings to a growing U.S. real estate platform.
The company also announced its first digital title acquisition in fulfillment company Expetitle, now known as Real Title.
LemonBrew is licensed as a distributor in 20 states. Real has reached a specific agreement with Lemon Brew’s management and executives under which the company will pay $2.5 million in “contributory compensation” over the next 36 months.
LemonBrew Lending CEO Samir Dedhia said the LemonBrew Lending team is excited to take the lending platform we’ve created to the next level and couldn’t be more excited to be able to do so in partnership. and the best technology from Real.
Tamir Poleg, President and CEO of The Real Brokerage, said LemonBrew’s current and future lending opportunities bring us one step closer to our plan to provide consumers with a better home-buying experience.
Reference Source: MPA
