Ribbon reached a milestone of more than $650 million a month in RibbonCash Offers on its platform, and north of $600 million a month in buying power for fully approved cash buyers, the company announced in a release.

Since January, RibbonCash Offers have increased to the $650 million a month milestone, providing homeowners the strongest offer in real estate with a 100 percent on-time closing rate, the company said. The number of weekly active agents on the platform has grown by 500 percent with listings on the platform receiving an average of six offers.

“Everyday families are up against one of the most competitive housing markets in recent memory. Over a third of homes today are purchased with cash,” Ribbon co-founder and CEO Shaival Shah said in the release. “From day one, Ribbon's mission has been to make homeownership achievable for all. Our rapid growth in the past year gives us the opportunity to deliver on that promise, while making the experience fast, simple, and certain for buyers, agents, and lenders alike.”

Ribbon said it is increasingly relied upon as a competitive solution to everyday buyers in the markets it operates. Among its markets:

• Georgia, home to Ribbon’s fastest-growing market in Atlanta, totaled nearly $250 million in offers last month.
• North Carolina totaled nearly $200 million in offers last month.