Key Takeaways
- • Saluda Grade, an alternative investment firm with $4.1 billion in AUM as of July 1, 2026, made a $20 million Series C investment in Zippy, a technology-enabled originator and servicer focused exclusively on manufactured housing finance, according to a Business Wire press release.
- • Saluda Grade was the sole investor in the round, deploying capital through its growth equity strategy.
- • Beyond capital, Saluda Grade will work alongside Zippy on credit, capital markets, balance sheet management, and product development.
- • The proceeds support Zippy's expansion beyond the 27 states it currently serves and the rollout of new loan products across community, retail/dealer, and wholesale channels.
- • Zippy reports more than $600 million in capital commitments secured in 2026, and was founded in 2021.
Summary
Saluda Grade, an alternative investment firm specializing in asset-based credit, announced a $20 million Series C investment in Zippy, a technology-enabled originator and servicer focused exclusively on manufactured housing finance. Saluda Grade served as the sole investor through its growth equity strategy. In addition to capital, the firm will work with Zippy on credit, capital markets, balance sheet management, and product development.
Zippy's stated next phase of growth includes expanding its national footprint beyond the 27 states it currently serves, delivering new loan products across community, retail, and wholesale distribution channels, and expanding its technology capabilities and balance sheet capacity. The company said it has secured more than $600 million in capital commitments in 2026 alone. Zippy describes the financing as an inflection point in its evolution into a national full-service manufactured housing lending platform. Its proprietary loan origination platform supports digital applications, partner-facing tools, underwriting and decisioning, standardized loan documentation, and data infrastructure.
Co-Founder and CEO Ben Halliday said manufactured housing is one of the most compelling affordable homeownership solutions in America but needs a financing system as modern as the homes themselves. Citing figures from the Manufactured Housing Institute, the release notes manufactured housing accounted for 5% of national households in 2024 and 9% of single-family home starts in 2025, while the industry's financial infrastructure remains less developed than the traditional mortgage market.
John Stepp, Head of Ventures at Saluda Grade, said the firm has a longstanding relationship with Zippy's leadership and views manufactured housing finance as a compelling opportunity. Saluda Grade, founded in 2019 by Ryan Craft and headquartered in New York City, says the investment fits its growth equity strategy and its exposure to housing supply and affordability themes. Zippy, founded in 2021, is headquartered in Dallas and works with manufactured housing communities, retailers and dealers, and wholesale partners. The release is a company announcement and includes forward-looking statement and lending disclaimers.
Zippy's stated next phase of growth includes expanding its national footprint beyond the 27 states it currently serves, delivering new loan products across community, retail, and wholesale distribution channels, and expanding its technology capabilities and balance sheet capacity. The company said it has secured more than $600 million in capital commitments in 2026 alone. Zippy describes the financing as an inflection point in its evolution into a national full-service manufactured housing lending platform. Its proprietary loan origination platform supports digital applications, partner-facing tools, underwriting and decisioning, standardized loan documentation, and data infrastructure.
Co-Founder and CEO Ben Halliday said manufactured housing is one of the most compelling affordable homeownership solutions in America but needs a financing system as modern as the homes themselves. Citing figures from the Manufactured Housing Institute, the release notes manufactured housing accounted for 5% of national households in 2024 and 9% of single-family home starts in 2025, while the industry's financial infrastructure remains less developed than the traditional mortgage market.
John Stepp, Head of Ventures at Saluda Grade, said the firm has a longstanding relationship with Zippy's leadership and views manufactured housing finance as a compelling opportunity. Saluda Grade, founded in 2019 by Ryan Craft and headquartered in New York City, says the investment fits its growth equity strategy and its exposure to housing supply and affordability themes. Zippy, founded in 2021, is headquartered in Dallas and works with manufactured housing communities, retailers and dealers, and wholesale partners. The release is a company announcement and includes forward-looking statement and lending disclaimers.
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