Home News Real estate investing app Fintor raises $6.2M at $80M valuation • TechCrunch

Real estate investing app Fintor raises $6.2M at $80M valuation • TechCrunch

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finteris a fintech startup that makes it easier for non-accredited investors to invest in real estate and has released mobile apps on both iOS and Android. Also, his $6.2 million additional funding from Public.com, Hustle Fund, 500 Global, VU Ventures, Graphene Ventures, and existing investors including angel investors Manny Khoshbin, Andy Madadian, Cindy Bi, Marcus Ridgway We just raised a funding round.

This latest round values ​​Fintor at $80 million, founder and CEO Farshad Yousefi told TechCrunch EXCLUSIVELY. With the new funding, Fintor said: it raised now $9 million total from investors.

Based in Palo Alto, California, the company is eligible to offer fractional shares of real estate it owns to investors under Rule A of the US Securities and Exchange Commission (SEC). This is done by issuing shares in his LLC that owns the underlying assets, Yousefi explained in an interview.

Yousefi, along with co-founder Masoud Jalali, launched the company in early 2021 to address the growing demand to invest in real estate noticed among Gen Z and millennials. the entire property.

Fintor allows customers to invest in real estate for as little as $5, Yousefi said. The platform currently offers single-family home equity in states such as Georgia, South Carolina, Texas and Alabama, and Yousefi says he plans to enter 20 different markets by the end of 2022. increase.

Ultimately, Yousefi said, he hopes to build Fintor into a comprehensive real estate platform to offer investors multifamily, industrial and other types of real estate.

It’s a competitive market, with startups including: Landa, Nada When Arrived homeall of which have been previously featured on TechCrunch, seek to democratize access to real estate investing.

Yousefi highlighted several different aspects that set Fintor apart.

First, unlike many other real estate investment platforms, Fintor operates a secondary marketplace where individuals can bid on and trade properties after they have been listed on the platform for more than 90 days. says Yousefi.

A second differentiator Yousefi highlights is Fintor’s focus on content that promotes real estate literacy. This is aimed specifically at his Generation Z and millennials, who make up Fintor’s target customer base. Yousefi said the app offers walkthroughs and educational modules that teach users how to analyze real estate transactions.

Fintor aims to remain operationally lightweight, Yousefi said. The company outsources property management functions to external providers rather than doing them in-house, he explained. can focus on its core mission of disaggregating to investors.

Yousefi added that he doesn’t mind having competitors because the niche is new. He said other companies are assisting Fintor in a broader mission to educate people about what a split investment really is and spread the word that it’s available for real estate listings. .

“I don’t see Arrived Homes or Landa as competitors. Rather, I see the stock and crypto markets as competitors,” Yousefy said.

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