Boston-based financial technology firm Hometap has raised $60 million in operating capital to support its platform that allows homeowners to tap into home equity without taking on debt.

Hometap said in a statement yesterday that the latest funding round brings the total of operating capital raised to-date to $95 million. The recent funding round was led by American Family Ventures, along with new and existing investors, including Bain Capital, ICONIQ Capital LLC, G20 Ventures, Pillar and General Catalyst.

The company said it would use the operating capital to continue hiring for all functional areas, scale a partnership program and introduce additional alternative financing products and services to support homeowner needs. The company said it will also use the funds to expand operations nationwide.

Hometap allows homeowners to receive debt-free cash in exchange for a share of their home’s future value. When the home sells or the homeowner settles the investment, Hometap is paid an agreed-upon percentage of the sale price or current appraised value.

“Since we made our first investment in Hometap in 2018, we’ve strongly believed in its mission to give homeowners a more accessible way to create liquidity and financial flexibility from what is oftentimes their largest asset,” Dan Reed, managing director at American Family Ventures, said in the statement. “By leading this funding round, we’re casting another vote of confidence in the team’s ability to accelerate its progress. We look forward to a continued partnership that makes a positive difference in the lives of homeowners.”

During the first 10 months of 2021, Hometap said it had made four times as many home equity investments as it had during the same period in 2020. The company has also more than doubled its staff in the past year.

“I am excited about our growth trajectory and am truly grateful to our team for working tirelessly to put homeowners first as we continue to scale the business,” Hometap CEO Jeffrey Glass said. “This new funding will reinforce our ongoing efforts to build our talented team, rapidly expand our operations, and grow our partner programs and distribution channels. We remain focused on delivering alternative financing solutions to more homeowners in need while continuing to provide the personalized service they’ve come to expect from us.”