homeWelcome, sign in or click here to subscribe.login
     


 

 

Real Estate


print  email to a friend  reprints add to mydjc  

September 23, 2021

Concreit launches investment app

The real estate investment app Concreit began brewing about two years ago. Now the local startup has announced $6 million in new funding, led by Matrix Partners and Hyphen Capital, which coincides with the app's official launch. CEO Sean Hsieh said in a statement, “We are democratizing the real estate investing process, because everyone deserves equal access to the opportunities that can change their financial situation.” The platform allows small passive investors to own a stake in the company's first private REIT fund, which the company says achieved an annualized return of 5.47%, as of July. The fund invests in what it calls lower-risk mortgage-backed securities, from both the residential and commercial sectors. Hsieh founded the new venture with Jordan Levy, after they sold their prior VoIP communications platform, Flowroute, for an undisclosed amount. Matrix partner Dana Stalder will join the Concreit board.




Email or user name:
Password:
 
Forgot password? Click here.