Concreit closes on $6M to allow more people to invest in the global private real estate market –
Summary
So the duo worked together to design a mobile-first offering that could enable small investors to benefit from real estate “without the burden of making repairs at 2 a.m. on a Saturday.” Enter Concreit. Concreit, Hsieh said, offers “regular people” the ability to access real estate strategies typically used by large hedge funds and private equity. “We’re seeing a surge of retail demand for alternatives and other ways to invest outside of the public markets and the crypto space for those that value diversification,” Hsieh told TechCrunch. So on the platform side, Concreit has built a cloud-based proprietary securities accounting engine that allows the company to process fractional calculations and pull in a lot of mutual fund practices, applying them toward the “more labor-intensive” private equity markets, with a focus on real estate. The startup has added over 18,000 customers to its platform since it was qualified by the SEC (slightly over a year ago), and doubled its user base in the month of August.