FinTech news in real estate category
The goal is that by allowing people to co-buy a home and build equity that way, they can eventually sell their shares and purchase their own home at a later time.
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?
Because it is using its retail customers’ savings deposits to fund these loans at a 3.85% to 4.5% yield, Tellus makes its money on the spread of what it’s paying out in interest versus what it’s charging its borrowers. The six-year-old fintech startup claims it can offer people yields of 3.85% to 4.5% on their savings balances by using the money to fund certain U.S. single-family-home loans. Tellus says it promotes financial literacy by quizzing users on financial terms, for example, and then rewarding them with higher interest rates. With mortgage interest rates having more than doubled since a year ago, one might think that this is not the best time to be a digital mortgage lender.
Fintor, a fintech startup making it easier for non-accredited investors to invest in real estate properties, has just launched its mobile app for both iOS and Android. It also just raised a $6.2 million extension funding round from its existing investors, including Public.com, Hustle Fund, 500 Global, VU Ventures, Graphene Ventures and angel investors such \[…\]
CEO Yishai Cohen and CTO Amit Assaraf started Landa in 2020 in an effort to make real estate ownership more inclusive. Users can start investing with just $5, and buy and sell shares as well as see real-time updates on their properties from the Landa app.
Now, Landing, a startup that is making it possible for its customers to rent a fully furnished apartment on its platform for as short a period as one month, says it, too, has secured fresh funding: $75 million in equity funding and another $50 million in debt. Blueground, a pre-furnished apartment rental startup focused on short-term and long-term rental, meanwhile raised $180 million in equity and debt funding last September. Earlier today, journalist reported that an online rental marketplace, Zumper, just raised $30 million in a Series D1 round of funding led by Kleiner Perkins to help it better serve people looking for short-term rental options. Another flexible-living company is Sentral, whose 3,000-plus properties are owned by Iconiq Capital, the San Francisco-based investment firm whose investors include Mark Zuckerberg and Reid Hoffman; Iconiq is also a major investor in Sentral, the WSJ reported last year.
CEO Lindsay McLean started the Santa Monica, California-based company in 2015 with attorney and real estate broker Jennifer Stein, after her own home-selling experience. Enter HomeLister, a digital brokerage and real estate site that gives homeowners a way to list and sell their properties online, with support.
Sumutasu, a Tokyo-based proptech startup that offers a direct online real estate purchase service, has secured $8.2 million in equity and $1.6 million in debt.
On its LinkedIn page, the company said: Today, we made the difficult decision to reduce the size of our company based on the impacts of the changing real estate market. Limited housing inventory has also created a challenging real estate market for home buyers; driving up prices and making homeownership less and less accessible.
Today it extending the whole process further by launching real estate-backed NFTs in the United States, working on the technological and legal framework to literally turn real estate properties into NFTs.