News
Crypto mortgage lenders are entering the housing market
Fortune - March 3
Individuals with large crypto holdings who have the wealth to buy a home but not the dollars have run into trouble when seeking out traditional mortgages. But a new player has emerged to address this gap in the market: crypto mortgage lenders. Last month, Milo launched a crypto mortgage department where clients can apply to receive a loan to buy U.S. real estate if they put up an equivalent amount of money in Bitcoin. Milo claims to be the first crypto loan company that offers a 30-year mortgage, but it is not the only player in the crypto mortgage space.
New clean energy marketplace joins Silicon Valley rush to green buildings
The Mercury News - March 30
A San Francisco startup is looking to capitalize on the efforts by colleges, offices, and corporate campuses to reduce their carbon footprints. Station A is an online marketplace that connects building operators with businesses offering solar paneling, battery storage, and electric vehicle charging. Part of a wave of technology companies offering services to ease the transition to net zero, the venture has given an “energy grade” to more than 765,000 buildings in the U.S., representing over ten thousand square feet.
Proptech VCs and CEOs mostly bullish on 2022, according to new survey
Commercial Observer – March 16
Despite the lingering effects of COVID-19 and growing inflation fears, the end of 2021 saw PropTech investor optimism about the sector tying an all-time high, while founder sentiment slightly receded but remained strong, according to responses to MetaProp’s Year-End 2021 Global PropTech Confidence Index survey. The PropTech investor confidence index score was 9.3 out of 10, tying the highest VC positivity to date (the index launched in mid-2016), and consistent with the year-end 2020 results.
|
Deals
Roofstock closes $240M Series E funding round
Forbes - March 11
Roofstock, a platform for investing in the single-family rental market, has closed a Series E funding round of $240 million, raising its valuation to $1.94 billion. Founded in 2015, the company had previously been valued at $600 million in January 2020. SoftBank Vision Fund 2 led the round with participation from a long list of investors, both existing and new.
Reigo doubles AI-powered bridge loans securitization to $200M
GlobeSt.com – March 23
Reigo Investments announced an additional $100 million securitization in residential bridge loans, led by Cantor Fitzgerald, as was the company's prior round, which closed in June 2021. In addition, the company closed a $13 million Series A funding round for additional R&D as well as U.S. expansion. Leading the round was Caesarea Medical, which invests in fintech, insurance, and private equity sectors.
Tishman Speyer launches $150M PropTech fund
Commercial Property Executive – March 25
Tishman Speyer has introduced the Tishman Speyer PropTech Venture Fund with the hope of raising as much as $150 million for the purpose of funding technology-driven opportunities across the real estate market. The investment vehicle marks the real estate developer and operator’s first PropTech venture capital fund, and the company has already landed $100 million in equity commitments. Tishman Speyer has invested in 19 emerging PropTech companies since 2017.
Snappt raises $100M to help landlords flag fraudulent rental applications
dot.LA – March 15
Snappt, a West Hollywood-based PropTech startup that helps landlords detect fraudulent rental application documents, has landed a $100 million Series A funding round led by venture capital giant Insight Partners. Snappt addresses the problem of financial document fraud by rental applicants, by providing landlords with a software platform that can detect when pay stubs and bank statements have been fraudulently altered.
|