FinTech news in fifth wall category

Real estate accounts for 40% of CO2 emissions, and yet the venture climate tech venture capital ecosystem only has historically put about 6% of climate VC dollars toward tech for the real estate industry. Never mind that just last month, Fifth Wall closed the largest-ever venture fund focused on real-estate tech startups with $866 million in capital, or that it closed a $500 million fund earlier in 2022 that aims to decarbonize the property industry. To put that in perspective, the U.S. GDP is like $22 trillion to $23 trillion, and we have to decarbonize the real estate industry over the next 20 years, so one way to think about that is that we have to roughly spend one year of U.S. GDP over the next 20 just on decarbonizing our physical assets. How is it that your many real estate investing partners are investing so much capital with you when it’s such a challenging time for real estate, particularly office buildings?

Belong, a startup that aims to address both these issues while giving renters a way to save toward home ownership, has just raised $50 million in equity and secured $30 million in debt to expand its offerings and markets it serves.