Photo: Opendoor

Opendoor, a San Francisco startup that buys and sells homes, has raised $325 million in new funding led by General Atlantic, Access Technology Ventures, and home-builder Lennar.

Bottom line: Opendoor says that it's on track to purchase more than $2.5 billion worth of homes this year — up from a $1.3 billion run rate last October. But it doesn't disclose data on homes sold, and Opendoor's ability to profitably offload is viewed as a major risk factor.

Co-founder and CEO Eric Wu tells Axios that the staggering amount of equity funding ($645 million up to date) is to fuel company growth, not purchase new homes, which it finances via debt.

The deal: General Atlantic, Access Technology Ventures and Lennar co-led the round, and were joined by fellow new investors Andreessen Horowitz, Coatue Management, 10100 Fund, and Invitation Homes. Return backers include Norwest Venture Partners, Lakestar, GGV Capital, NEA, and Khosla Ventures.

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Court allows North Carolina mail-in ballots deadline extension

An absentee ballot election worker stuffs ballot applications at the Mecklenburg County Board of Elections office in Charlotte, North Carolina, in September. Photo: Logan Cyrus/AFP via Getty Images

North Carolina can accept absentee ballots that are postmarked Nov. 3 on Election Day until Nov. 12, a federal appeals court decided Tuesday in a 12-3 majority ruling.

Why it matters: The 4th Circuit Court of Appeals' ruling against state and national Republican leaders settles a lawsuit brought by a group representing retirees, and it could see scores of additional votes counted in the key battleground state.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Americans feel Trump's sickness makes him harder to trustFlorida breaks record for in-person early voting — McConnell urges White House not to strike stimulus deal before election — Republican senators defend Fauci as Trump escalates attacks.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots — University of Michigan students ordered to shelter-in-place.
  4. World: Ireland moving back into lockdown — Argentina becomes 5th country to report 1 million infections.

Report: Goldman to settle DOJ probe into Malaysia's 1MDB for over $2B

Illustration: Lazaro Gamio/Axios

Goldman Sachs has agreed with the Department of Justice to pay over $2 billion for the bank's role in Malaysia's multi-billion dollar scandal at state fund 1MDB, Bloomberg first reported.

Why it matters: The settlement, expected to be announced within days, would allow Goldman Sachs to avoid a criminal conviction in the U.S. over the bribery and money laundering scandal that saw three of its former bankers banned for life from the banking industry by the Federal Reserve Board.