Fintor, which powers investing into real estate, has launched its mobile-first platform on iOS and Android devices, alongside the close of a $6.2m investment.
Investors into the round include Public.com, Hustle Fund, 500 Global, VU Ventures and Graphene Ventures. Angel investors also joined the round, including real estate influencer Manny Khoshbin, Andy Madadian, Cindy Bi and Invitation Homes co-founder Marcus Ridgway.
With the close of the round, the company has raised a total of $9m in funding.
This capital will enable Fintor to grow its user base and expand the number of investment properties it has. In the first half of 2023, Fintor plans to expand across the US into over 20 markets. This expansion will introduce $5m+ worth of investment opportunity for its user base.
Fintor helps anyone diversify their investment portfolio to include real estate, without needing to own property. It achieves this by purchasing rental properties, securitising the asset and issuing shares of an LLC that owns a property.
This its ‘Initial Realty Offering’ (IRO), the company has launched investment properties based in Alabama, Georgia and Tennessee.
The PropTech company is qualified under the U.S. Securities and Exchange Commission’s Regulation A status. This enables it to support non-accredited investors, who have traditionally been unable to access real estate investment platforms.
Fintor CEO and co-founder Farshad Yousefi said, “Real estate, as an asset class, is one of the most critical parts in diversifying a person’s portfolio to create robust positioning. We know first-hand just how hard it can be to secure enough funds and navigate the complex process to start investing in real estate, which is why most Millennials and Gen-Zers haven’t considered investing in real estate. It shouldn’t be this difficult. This is why we’re building Fintor.
“We’re on a mission to not only democratise but demystify the real estate market for individuals who are new to investing and looking to make a smart investment in an asset class that previously wasn’t available to these novice investors.”
A fellow PropTech platform to recently raise capital was PropHero. The company raised AUD 8m to support its digital property investment platform.
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