Fintech real estate platform Backflip has raised two private credit funds totaling $30 million in equity, as well as $154 million in asset-backed financing to fund residential bridging loans or “fixable mortgages.”
Real estate entrepreneurs can use the platform to acquire and renovate single-family homes using Backflip’s technology and capital products to analyze, research and finance residential real estate investments. The platform also provides data and financing strategies for entrepreneurs trying to grow their businesses.
“Increasing these private credit vehicles and warehouse facilities allows Backflip to offer ever-improving capital products to our members doing the important work of rejuvenating outdated homes,” said co-founder and Backflip COO Jake Rome. “We are grateful for the trust and support of our financial partners and are excited to be at the forefront of a rapidly institutionalizing investment asset class. »
Members analyze an average of $10 billion in properties each month through the Backflip app, while the company itself has increased its 12-month origination volume 3x year-over-year to reach a rate execution of $375 million.
Brazilian aerospace company Embraer to invest up to $70 million at Perot Field Alliance Airport
Embraer, a Brazil-based aerospace company, is expanding and investing in the United States with its maintenance, repair and overhaul services network to better support its growing portfolio of E-Jets by opening a service center in Perot Field Alliance Airport.
“We are thrilled to welcome Embraer, a global aviation leader, to Perot Field Fort Worth Alliance Airport and North Texas,” said Ross Perot, Jr., Hillwood Chairman and CEO. “This new facility will create 250 high-quality jobs in Fort Worth and North Texas, strengthening our region’s role as a key hub for aerospace innovation while ensuring Embraer can effectively support its growing fleet commercial aircraft in the United States. We are proud to be part of this exciting new chapter in their growth.
Working in concert with the City of Fort Worth, Denton County and the State of Texas, Embraer plans to begin operations in an existing hangar by mid-2025, with a second hangar expected to be completed in 2027. Beyond creating 250 aviation jobs, the investment will reach up to $70 million and increase the company’s ability to serve E-Jet customers by 53%.
“We are pleased to receive final approval for this significant expansion of our MRO business that supports our continued investment in the U.S. market,” said Carlos Naufel, President and CEO of Embraer Services and Support. “We have a long-standing relationship with the State of Texas and look forward to our partnership with Hillwood at Alliance. The opening of this new service center will create hundreds of highly skilled jobs in a vital segment for the aeronautical industry. »
Trilogy Studios to Launch Virtual Production Stage in Fort Worth
Thanks to Trilogy Studios, the largest cinematic volume scene is coming to Texas. With a ceiling of 23 feet and a width of 157 feet, the stage will enhance film and commercial production. The facility will also house two other volume stages: a commercial stage and an automotive processing stage designed for automotive commercials or interior shots of moving vehicles.
“The entertainment landscape is rapidly evolving and virtual production is at the heart of this transformation,” said Joe Worth, head of Trilogy Studios. “We are proud to offer filmmakers a space where their storytelling can transcend the boundaries of traditional production. Whether you’re filming a high-stakes action scene, a serene natural setting, or a supernatural fantasy environment, our stage can deliver unparalleled quality and creativity.
Located near DFW International Airport, Trilogy Studios becomes the first large-class virtual production facility in the central United States. The installation will also feature an LED screen measuring 50 feet wide by 20 feet high. In total, the studio has a combined 19,000 square feet of space spread across its three stages.