FB Financial in Nashville, Tenn., has invested in a fintech that focuses on manufactured home loans.
The $12.8 billion-asset company said in a press release that its FirstBank unit invested in Zippy. The amount of the investment and the size of the stake were not disclosed.
Zippy operates in nine states – Texas, Arizona, Kansas, Missouri, Virginia, Georgia, Alabama, Indiana and Michigan – with plans to more than double its footprint this year.
“FirstBank has extensive experience in manufactured home lending and has invested in fintech partnerships that enable us to offer innovative solutions that meet the needs of our customers,” Wade Peery, the bank’s chief innovations officer, said in the release.
“In today’s housing market, finding new paths to affordable homeownership is critical. This partnership will make buying a home possible for many new individuals and families,” Peery added.