Real estate investment app Fintor raises $6.2M in $80M valuation • TechCrunch


A fintech startup that makes it easy for unaccredited investors to invest in real estate has recently launched a mobile app for iOS and Android. It also raised $6.2 million in expansion funding from existing investors, including Public.com, Hustle Fund, 500 Global, VU Ventures, Graphene Ventures and angel investors such as Manny Khoshbin, Andy Madadian, Cindy Bi and Marcus Ridgway.

This latest round values ​​Fintor at $80 million, founder and CEO Farshad Yousefi exclusively told TechCrunch. With the new funding, it says it has now raised a total of $9 million from investors.

The Palo Alto, CA-based company qualifies under U.S. Securities and Exchange Commission (SEC) Regulation A to offer fractional shares of its holdings to investors. It does this by issuing shares of LLCs that own the underlying assets, Joseph explained in the interview.

Yousefi launched the company in early 2021 with entrepreneur Masoud Jalali to address the growing interest he saw among Gen Z and Millennials to invest in real estate, an asset class not always accessible to everyday investors who couldn’t afford it. Full of properties.

Fintor allows its customers to invest in assets for as little as $5, Yousefi said. The platform currently offers shares of single-family homes in states such as Georgia, South Carolina, Texas and Alabama, and Yousefi said it plans to enter 20 different markets by the end of 2022.

Ultimately, Yusuf said, he hopes to build Fintorn a comprehensive real estate platform by offering multi-family, industrial and other property types to investors.

It’s a competitive market, with startups including Landa, Nada and Destination Homes all covered by TechCrunch seeking to democratize access to real estate investing.

Yousefi highlights a few different aspects of Fintor that help it stand out.

First, unlike other real estate investment platforms, Fintor operates a secondary marketplace where individuals bid and ask for trades on properties after the properties have been listed on the platform for more than 90 days, Youssef said.

The second difference is Yosefee’s focus on content that leverages Fintorn’s real estate expertise, which is specifically aimed at Gen Z and millennials, which comprise Fintorn’s target customer base. The app offers tutorials and educational modules that teach users how to analyze real estate deals, Yousefi said.

Fintor aims to be lightweight on the move, Yousefi said. Rather than trying to do that in-house, the company outsources its asset management function, he explained. By outsourcing asset management, Fintor can focus on its core mission of buying strong returns and distributing its wealth to investors.

Yousefi added that because of the newness of the space, he is not worried about having competitors. Other companies, he said, are helping Fintor’s broader mission by educating people about what diversified investing is and making it ready for real estate assets.

“I don’t see Arrived Homes or Landa as competitors. Instead, I see the stock market and the crypto market as competitors,” Yousefi said.



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