Up&Up
Series BBuild wealth while you rent
A rent-to-wealth platform that lets renters build equity and participate in property appreciation without buying a home.
About
Up&Up is a vertically integrated single-family rental company that lets renters build wealth from day one. Instead of a traditional security deposit, renters contribute to an Up&Up Wallet that grows as the property appreciates and generates rental income. At the end of their lease, renters can apply their earnings toward purchasing the home, transfer their wallet to another property, or withdraw their funds. Founded by Michael Wong, Ryan Brown, Ben Wong, and Needham Hurst, the company acquires, renovates, leases, and manages single-family homes across multiple U.S. markets. Up&Up raised over $300M in combined debt and equity — including a $275M Series B led by Khosla Ventures — from investors including Founders Fund, Goldman Sachs, and key executives from Opendoor, Robinhood, Airbnb, and Plaid.
DailyDropout Take
Up&Up caught our eye as a rare proptech model that genuinely aligns renter and landlord incentives. While competitors like Divvy Homes collapsed under rising rates, Up&Up's wealth-sharing approach — where renters earn equity from day one without obligation to buy — offers a fundamentally different value proposition. Backed by Khosla Ventures and Founders Fund with $300M+ raised, they're tackling the housing affordability crisis with a model that could scale across every rental market in America.
Discovery signal: Novel rent-to-wealth model distinct from traditional rent-to-own, $275M Series B from top-tier VCs (Khosla, Founders Fund, Goldman Sachs), vertically integrated operations
What Makes Them Unique
Up&Up is the only vertically integrated single-family rental platform that lets renters build real equity through property appreciation and rental income sharing — without requiring a home purchase commitment. Unlike competitors who folded under high interest rates, Up&Up's model aligns renter and owner incentives from day one.
$300M+
Total Raised
4+ U.S. cities
Markets
Up to $11K over 5 years
Renter Savings Potential
Target Markets
Founders
Michael Wong
Co-Founder & CEO
Founded Up&Up to help renters build wealth. Conceived the idea after helping a friend buy a home by splitting the down payment.
Ryan Brown
Co-Founder & Managing Director
Co-founded Up&Up to transform the rental experience into a wealth-building opportunity.
Ben Wong
Co-Founder, Business Operations
Oversees business operations at Up&Up.
Needham Hurst
COO
Leads operations at Up&Up, managing the company's home acquisition and renovation pipeline.
Funding History
Lead: Khosla Ventures