In this week’s founder interview, we’re bringing you Will Dunn from Gravy.
Without further ado…
I am the co-founder and Chief Growth Officer at Gravy, a mobile app that helps renters save money and buy their first home sooner.
I focus on our strategic roadmap and identifying new ways that we can help aspiring homeowners succeed. That mandate spans product, partnerships, member acquisition, retention, and monetization.
Prior to starting Gravy, I headed up the consumer team at Buildium, a leading property management software company used by millions of renters, along with my co-founders Jeff Dinter and Jimmy Lien. I started my career in technology investment banking and private equity.
What problem does your product/service solve?
You want to buy a house someday, but where do you even start?
The Gravy app is designed to be both the first step toward homeownership for renters and each step thereafter, to and through getting the keys to a new home. Save for a down payment, build your mortgage credit score, learn about the process, and ultimately find and finance the house.
Homeownership is a common goal that almost all of the 100M renters in the US share. We designed Gravy to work for 100% of renters, regardless of where you live today or when/where you want to buy.
The secret sauce is Gravy Rewards, a first-of-its-kind loyalty program where members earn cash back toward their future home purchase. A typical member will save thousands of dollars by cashing in their Gravy Rewards with our partner lenders and agents.
What are you most excited about right now?
The median net worth of a homeowner is 40 times greater than that of a renter. Owning a home is the #1 driver of wealth creation for Americans, but with home prices, rents, and mortgage rates through the roof it has never been harder to buy your first house.
Today, there are at least a dozen companies, and probably many more, with nearly identical mission statements: to make homeownership more accessible.
It’s a group we are proud to be a part of. This is a big problem and I am so excited about how much time, energy, and attention some really amazing people are spending to solve it.
What’s next for you?
The launch of our partnership product. Since almost day one, this has been our most requested feature.
Lenders, agents, property managers, and even employers all want to help folks buy their first home. They interact with aspiring homeowners every day, as not-quite-ready mortgage applicants, just-browsing house shoppers, tenants, and employees. Gravy is the perfect tool to help these folks prepare to buy and save a lot of money while they’re at it.
We are introducing a co-branded version of our app, first for mortgage lenders and real estate agents, to help them build powerful relationships with their clients and close more homes.
What’s a cause you’re passionate about and why?
Homelessness is a cause I care about deeply. It isn’t the solution, but because underwear is often the most requested, but least donated item, I founded an online store years ago that donates a pair of underwear to those in need for each one that we sell. We donate to great organizations like Cradles to Crayons and Bay Cove Human Services, which are doing the real work. Please volunteer or give a gift!
Thanks to Will for sharing his story. If you’d like to connect, find him on LinkedIn here.