PALO ALTO, Calif.--(BUSINESS WIRE)--Fintor today announced the completion of its $2.5 million Seed round which will be used to build an innovative fractional real estate investing platform. Developed by serial co-founders Farshad Yousefi and Masoud Jalali, Fintor “fractionalizes” houses and other residential property, allowing U.S. persons to access investment opportunities in the real estate asset class starting with as little as $5.
Notable investors in Fintor’s Seed round include 500 Startups, Hustle Fund, Graphene Ventures, Manny Khoshbin, Mana Ventures and other noteworthy investors such as Cindy Bi, Skyler Fernandes, VU Venture Partners, Minal Hasan, Andrew Zalasin, Alluxo CEO and Founder Safa Mahzari, SquareFoot CEO and Founder Jonathan Wasserstrum and Teachable CEO and Founder Ankur Nagpal.
The Fintor technology platform would allow each property to have its own offering marketed through the platform, dividing the property into shares, setting a share price, and allowing consumers to invest. Ultimately, the platform intends to enable regular trading opportunities for investors through trading windows, creating liquidity for holders while protecting against volatility.
While owning a home is often considered the “escalator to wealth in America,” homeownership among American adults younger than 35-years-old has plummeted to historical lows, according to the U.S. Census Bureau. High upfront costs and low liquidity are cited as two of the primary obstacles to purchasing your own home, let alone buying an income-generating investment property. With its fractional real estate investing platform, Fintor aims to create a new path to real estate investing in an otherwise inaccessible asset class.
“At Fintor we hope to foster the next generation of real estate investors, so that you no longer need hundreds of thousands of dollars and industry connections to benefit from owning real estate,” said Co-Founder and CEO Farshad Yousefi. “We’re building Fintor to open the real estate investing asset class to millions of Millennials and Gen Z’ers who otherwise wouldn’t have a chance, and we’re making it easy to get started in real estate investing with $5 and a smartphone,” Yousefi said.
“We have a vision that will change how people invest in real estate forever,” said Yousefi.
Fintor is a platform that allows users to buy and sell fractional shares of real estate for as little as $5 with a few taps. Fintor’s mission is to democratize real estate investing for all and provide access and liquidity to the real estate markets for investors, property owners, and new participants. The company is headquartered in California and backed by notable investors like 500 Startups, Hustle Fund, Graphene Ventures, Teachable CEO and Founder Ankur Nagpal and Manny Khoshbin. More information is available at: https://fintor.com
This press release is not an offer to sell or solicitation to purchase any securities. This press release contains forward-looking statements that relate to Fintor’s current expectations, beliefs and projections concerning matters that are not historical facts. Forward-looking statements are not guarantees of future performance and involve uncertainties, risks, assumptions and contingencies, many of which are outside Fintor’s control and which may cause actual results to differ materially from those described in or implied by any forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are based on currently available information and speak only as of the date on which they are made. Fintor assumes no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information or otherwise.