Japan’s Lifull leads seed round for BitOfProperty
By Digital News Asia May 11, 2018
- BitOfProperty allows small investments into rental real estate based on blockchain tech
- Lifull seeks to innovate, vitalise the real estate market in Japan utilising information tech
SINGAPORE-based startup BitOfProperty, a company dedicated to providing international real estate investment opportunities by bringing down the high capital requirement, enhanced transparency and increased liquidity, has closed seed round financing with a lead investor Lifull Co, Ltd. This follows a pre-seed round led by Spaze Ventures, a Singapore-based startup incubator.
The decision to invest into BitOfProperty was influenced by Lifull’s goal to innovate and vitalise the real estate market in Japan utilising information technology.
BitOfProperty differs from other crowdfunding platforms by allowing 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.
“The BitOfProperty platform is changing the real estate investment industry by making it easier, more transparent, and accessible than ever before. With Lifull's investment, as well as industry expertise and knowledge, we are poised to expand our business aggressively, as well as continue to improve our technology,” said Karl Vään (pic, right), co-founder and CEO of BitOfProperty.
BitOfProperty provides a crowdfunding platform for international rental of real estate. All transactions are recorded using innovative blockchain technology. The platform has already been tested and the first investment deal has already successfully closed.
Keizo Tsutsui, managing officer, Lifull said, “We are excited to be partnering with BitOfProperty. We believe blockchain technology and sharing economy are key innovations for the future of real estate. We look forward to building a next-generation global platform for real estate investment.”
Currently, BitOfProperty is building out their platform to include new features to improve customer experience, as well as introduce more robust investment tools.