SINGAPORE - BitOfPropertY, a blockchain-based real estate crowd-investment platform, has closed seed round financing with a lead investor LIFULL Co, a Japanese real estate information company, following a pre-seed round led by Spaze Ventures, a Singapore-based star-up incubator.
BitOfProperty said that LIFULL's investment, as well as industry expertise and knowledge, will help it to "expand our business aggressively, as well as continue to improve our technology".
BitOfProperty provides a crowdfunding platform for international rental of real estate. All transactions are recorded using blockchain technology. The platform has already been tested and the first investment deal has closed. BitOfProperty is building its platform to include new features to improve customer experience, as well as introduce better investment tools.
BitOfProperty has its South-east Asian base in Singapore. It said that it differs from other crowdfunding platforms because it allows small investments into rental real estate based on blockchain technology.
"The underlying technology helps to decentralise the real estate market by bringing more transparency and liquidity into international investing," it said.