This Week In Proptech 2020 #38

September 12, 2020 Rowan Stringer 0 Comments

This week we have a renewed rally in the blockchain-powered property funding platforms, with various releases and developments in that space. We have some cracks showing in existing market ‘disruptors’ Purplebricks; and fresh new platforms such as ‘Offr’, proposing to digitise much of the residential property market. 

#1 Blockchain-powered property crowdfunding platform ‘Max Crowdfunding’ is approved by Netherland’s financial authority 


Under development since 2017, Max Crowdfund explained that it allows registered investors to access high-quality real estate investment opportunities in a matter of minutes, from any computer or mobile device, with the security of AML procedures and blockchain technology. 

Source: https://www.crowdfundinsider.com/2020/08/164942-blockchain-powered-real-estate-crowdfunding-platform-max-crowdfund-receives-approval-from-the-netherlands-financial-market-authority/

 

#2 Tokenized commercial property platform ‘REINNO’ is launched

Houses in isometric arrangement

Investors can now buy a fraction of multimillion-dollar real estate using either US dollars or cryptocurrency. The properties include medical facilities, apartment buildings, warehouses, and more. There are both individual assets and portfolios for extra diversification. All properties are managed by experienced commercial real estate professionals to maximize returns and make investments truly passive.

Source: https://thetokenizer.io/2020/09/11/reinno-launches-a-marketplace-for-tokenized-commercial-real-estate/

 

#3 Generation Home applied to the FCA for authorisation to sell ‘Home Booster’ mortgages where parents can help their children to buy without second home liabilities

Thinking of going on someone’s mortgage to help them borrow more? You can now add your income potential to someone else’s mortgage to boost the borrowing power of the buyers. Generation Home are pitching this as parents that don’t want to liabilities of a second home, don’t want to become a guarantor, but want to help their children get their foot on the property ladder. Currently in review to be approved by the FCA, this creating creative legal packaging will be interesting to watch.

Source: https://generationhome.com/home-booster

 

#4 Offr, the property tech platform digitising the buying, selling and leasing process for estate agents and buyers, today announced it will launch in the UK with the support of Barclays.

Offr Mockup

Offr launched ten months ago, also announced it has raised £2.7M in seed funding led by Barclays. 

Offr’s white-label platform allows buyers to securely submit offers and close deals on real estate agents’ own websites. Offr’s technology enables real estate agents to track the progress of a sale or lease on their mobile device or laptop, in real-time, with instant alerts an offer is received, if there is an upcoming viewing or if legal documents have been updated.

Source: https://www.propertyreporter.co.uk/property/property-tech-platform-offr-launches-in-uk.html

 

#5 Artificial intelligence (AI) firm Buildots has secured $16m (£12m) in funding, allowing it to leverage the power of AI to track, analyse and provide data for construction project teams.

Roy Danon, chief execuitive of Buildots, said: “In the short time since we started rolling out our product, the immense value it brings to the industry has become clear.

“Any efficient process must have proper controls in place, but till now, automatic process control has been impossible to implement in construction.

“Thanks to the latest advancements in the fields of AI and computer vision, we’ve been able to bring modern systems that are ubiquitous in other industries, to construction.”

Large projects still rely on manual record-taking by project managers who often keep track of hundreds of thousands of tasks and the progress of dozens of contractors.

Source: https://www.propertywire.com/news/buildots-raises-16m-to-bring-ai-to-construction-management/

 

#6 Operating losses at online estate agency Purplebricks were more than five times as much for the most recent financial year as they were in the previous year.

Operating losses at online estate agency Purplebricks were more than five times as much for the most recent financial year as they were in the previous year.

Source: https://www.propertyweek.com/news/purplebricks-operating-losses-soar-fivefold/5109378.article

 

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