Unlock Adds Five More States, Hires Chief Growth Officer

Unlock Technologies, a fintech that offers flexible financing options for homeowners who want to access their equity without taking out a loan, is now providing home equity agreements (HEAs) in five additional states: Hawaii, Idaho, Montana, New Hampshire and Wyoming.

Following the addition of Kentucky, Indiana, Missouri and Ohio earlier this year, Unlock HEAs are now available in 24 states, representing a more than 40% increase over 2024.

“This recent growth is part of the strategic roadmap we laid out for our Series B funding last year,” said Jim Riccitelli, CEO of Unlock. “We’re now the first provider to offer home equity agreements in several of these states, and we have plans to expand into additional markets soon, making sure more homeowners have the option of an HEA when they need to tap into their home equity.”

Nearly half of homeowners expect higher household costs in 2025, and 30% carry more credit card debt than last year, according to an early 2025 survey commissioned by Unlock. The company’s HEA offers upfront cash for a share of the home’s future value, with no income or monthly payment requirements.

To help drive future expansion, Unlock also announced the hiring of Miren Desai as its first chief growth officer. In this new position, Desai is tasked with overseeing all aspects of growth and revenue operations, partnering closely with sales and product to introduce more homeowners to this category of equity-based financing.

Desai recently held leadership roles at LendingClub, Nextdoor and Funding Circle in addition to previous positions at Fortune 500 banking and credit card companies.

“I’m excited to help take Jim’s vision to the next level and support strategic, sustainable growth that remains focused on the homeowner experience and solving their financial needs,” Desai said. “I believe we can make an equity-based finance solution just as commonplace for homeowners as it is for businesses, and change the landscape of how people manage their finances and reshape their future.”

Wednesday’s move follows an announcement last month that Unlock secured access to $250 million through a purchase commitment agreement with D2 Asset Management. That agreement builds on D2’s $30 million Series B investment in late 2024.

Unlock, founded in 2020, also announced in July the closing of its fourth rated HEA securitization — and its first of 2025 — by securitizing $227 million in HEAs originated and managed by the company. The deal was sponsored by Saluda Grade.