Arabic AR Chinese (Simplified) ZH-CN English EN French FR German DE Japanese JA Portuguese PT Russian RU Spanish ES Turkish TR
Connect with us

Hi, what are you looking for?

Crypto News

Digital Real Estate Platform Roofstock Closed A $240 Million Series E Equity Financing Round

Roofstock valued at $1.9 billion with new funding round led by SoftBank Vision Fund 2

Digital real estate platform Roofstock closed a $240 million Series E equity financing round, achieving a valuation of $1.94 billion.

The Roofstock platform enables the $4 trillion fragmented, cottage industry of single-family rentals or “SFRs” to become a relevant asset class. Since it was founded in 2015, the platform has facilitated more than $5 billion in transaction volume, half of which came in the last year, according to a company statement.

These are made up of both individual investors and portfolio transactions by institutional investors. In 2021, Roofstock bought homes on behalf of institutional clients, representing over $1.2 billion in assets.

SoftBank Vision Fund 2 led the new financing with participation from existing and new investors.

“Real estate is a huge asset class that has been relatively untouched by technology, and is often fragmented, analog and inefficient as a result. Roofstock makes buying and investing in rental homes seamless and accessible, and we saw a huge opportunity for the platform, particularly as interest in the sector continues to grow,” said Serena Dayal, Investment Director at SoftBank Investment Advisers, in a statement. 

With this funding, the company plans to focus on innovating a wide range of investment products, including strategic mergers and acquisitions on top of the three previous acquisitions the company has completed; expanding into other forms of real estate; and doubling its team size in 2022.

The firm has also been open about its potential application of blockchain, particularly the possible tokenization of real-world assets, something it discussed publicly last year.

“The company is also investing to help further improve accessibility and liquidity in the SFR asset class,” Roofstock said in its Thursday release. “It recently was accepted into the Cypher Accelerator program at the Stevens Center for Innovation in Finance at the University of Pennsylvania’s Wharton School to help accelerate its real estate tokenization initiative.”

Featured

NFT

Worldwide music and entertainment giant Warner Music Group (WMG) has joined forces with OpenSea to introduce dedicated landing pages for their artists. The WMG roster will...

Finance

Though the recent months haven’t been very good for the crypto industry, this could not deter some crypto investors from being bullish about this...

Altcoin

The down-trending market that took its resistance from $1.35134 on the 10th of September did not go too far before it begins to face...

Crypto News

Robinhood, a leading investment app, has rolled out its newest product — a crypto wallet that charges zero transaction fees to its users. For...