From Frustration to Innovation: The Birth of Foyer

Imagine being on the front lines of the mortgage industry, helping countless first-time homebuyers navigate the labyrinth of home purchasing, only to find yourself stuck in the same maze when it’s your turn. That’s exactly what happened to Foyer’s founder, who, after years at Better.com, faced the harsh reality of skyrocketing mortgage rates in 2022. Instead of buying a home, he used his down payment to launch Foyer—a platform designed to be the ultimate ally for aspiring homeowners.

“I put my purchase on hold and used my down payment to start Foyer, where I am a user alongside our members,”

Foyer Founder

The 401k for Homeownership

Foyer isn’t just another savings app—it’s a game-changer. Think of it as a “401k for homeownership,” a specialized tool tailored to help you save for that dream home. While there are apps for retirement, college tuition, and even health expenses, Foyer fills a critical gap: a dedicated platform for down payments.

• Target Savings Goals: Set and track your progress with precision.
• Personalized Guidance: Get expert advice on saving strategies, mortgage rates, and real estate firms.
• Rewards Program: Earn points that can be applied toward your home purchase.

Why Foyer Matters Now More Than Ever

The dream of homeownership is slipping away for many. Rising prices and stagnant wages have created a perfect storm, leaving first-time buyers stranded. Foyer steps in with a lifeline, offering a subscription-based model that connects users with real estate professionals and provides tools to make saving smarter and faster.

“Homeownership is a vital part of the American dream, and first-time homebuyers need all the help they can get,”

Foyer Founder

Investors See the Vision

Foyer’s innovative approach has caught the attention of top-tier investors. The company recently closed a $6.2 million seed round led by Alpaca VC and Hometeam Ventures, with participation from Accion Venture Lab and Clocktower Ventures.

“Homeownership plays a crucial role in building long-term financial security, particularly for underserved communities,”

Amee Parhboo, Managing Partner at Accion Venture Lab

David Goldberg of Alpaca VC praised Foyer’s “reimagined approach to homeownership,” highlighting its unique blend of high-yield savings, education, and strategic partnerships.

The Road Ahead

Since its launch in Michigan last year, Foyer has expanded nationwide, attracting over 10,000 users. The fresh funding will fuel further growth and product enhancements, ensuring Foyer remains a beacon of hope for first-time buyers.

“Home affordability is in crisis, yet homeownership remains the greatest source of wealth creation for middle-class and minority families. Foyer is here to change the game,”

Foyer Founder

Foyer isn’t just a platform—it’s a movement. A movement to reclaim the American dream, one down payment at a time.