Switzerland-based Foxstone, which offers a real estate crowdfunding platform, has reportedly raised CHF 10m ($10m) in its Series A.
Commitments came from Rosablanche Ventures, Vaudoise Insurance Group and Naef Holding, as well as many other backers, according to a report from Startup Ticker.
Foxstone is a crowd investment platform for real estate, with everyone able to invest from as little as CHF 10,000 ($10,000). Through the co-ownership of properties, people earn quarterly returns to their bank account, with a full management report regarding the income and expenses of the property.
The daily management of the buildings are delegated to property management companies, which handle rent collections and building maintenance.
Owners can sell their stakes at any time, with Foxstone taking care of finding a buyer.
The report claims Foxstone hopes to consolidate its business in the German speaking part of Switzerland and implement tokenisation of real estate assets.
Rosablanche Ventures co-founder and partner Thierry Baudon said, “Foxstone is democratising and providing access to real estate investment to the general public. The company is a leader in its sector and has a proven track record of success.
“We are very pleased to be working with Foxstone, a company that has earned the trust of its investors by delivering real results. We will support and advise the management team, which has great ambitions in a sector where we see strong growth potential.”
In other PropTech news, M. Night Shyamalan was among the investors in Knock, a mobile platform helping homebuyers get their dream home. The company raised $220m in a funding round, which was also backed by Foundry Group, Greycroft and many others.
Copyright © 2022 FinTech Global