BuiltUp Ventures invests in cryptocurrency proptech firm, SolidBlock

November 24, 2019
Share this Post: 

The Real Estate Asset Tokenization Platform Bolsters BuiltUp's 360-Degree Solution that Encompasses the Most Promising Israeli Startups

SolidBlock, a cutting-edge real estate asset tokenization platform, announced at MIPIM PropTech NYC that it has received an investment from BuiltUp Ventures, a Tel Aviv- and New York-based investor in early-stage proptech companies. Terms of the transaction were not disclosed.

Based in Israel and New York, SolidBlock is best known for the successful tokenization of the five-star St. Regis Aspen Resort in Colorado, using the crowdfunding site Indiegogo to raise $18 million. 

Yuval Wirzberger, SolidBlock Co-Founder and CEO, said:

“Partnering with BuiltUp Ventures is an exciting way to open up even more opportunities in the proptech world.”  

Tokenization splits up a tangible asset, like a property, into shares represented by tokens. It uses blockchain, the tech core that gives Bitcoin and other cryptocurrencies their speed and security, to drive a high-speed system of distributed virtual ledgers. These securely record transactions for efficient and secure funding.  

Now, SolidBlock is bringing the power of blockchain to real estate. Blockchain offers more accessibility, transparency, security and liquidity than traditional real estate financing. This allows for fully compliant fundraising that is faster and simpler than traditional routes like real estate investment trusts (REITs).  

According to Oded Eliashiv, Managing Partner of BuiltUp Ventures:

“Partnering with SolidBlock gives our firm a foothold in the growing blockchain space, bringing liquidity to real estate assets through tokenization, and adds an important piece to our 360-degree proptech solution.”

The Tel Aviv- and New York-based venture capital firm invests in the most promising Israeli startups, providing real estate players with the pieces to complete every stage of the real estate puzzle.

The executives of SolidBlock and BuiltUp Ventures were at MIPIM PropTech NYC to unveil the partnership. Held as part of New York City’s Real Estate Tech Week, the event brings together 1,500 attendees representing the real estate industry across 50 countries for networking, learning and transaction, with premium events, conferences and exhibits. 

SolidBlock was named a Blockchain category finalist in the MIPIM Startup Competition, which recognizes the most promising and innovative startups that tackle the biggest urban challenges around the world.

Yael Tamar, SolidBlock CMO, said:

 “The future of real estate is here today—and together, SolidBlock and BuiltUp Ventures are leading the way.”

SOURCE SolidBlock

Join us February 26-27 for the Property Portal Watch Conference Bangkok 2020.

November 24, 2019

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Nils K
Ringier's Nils Körber on ArtificiaI Intelligence, Training the Machine, and Talking about Problems

"What would you do with one million interns?" The award for the best question at the PropTech and Portal Watch...

Read More
Untitled Design 13
As OnTheMarket Hits 15,000 Advertisers, Zoopla Fights Back with Big Agency Deal

The British property portal Zoopla has announced a new long-term listings deal with Dexters, one of London's top agencies with...

Read More
Untitled Design 12
LeBonCoin Suffers Data Leak and Boliga Comes Under Cyber Attack on Same Weekend

LeBonCoin, the leading French horizontal marketplace owned by Adevinta, has acknowledged that some of its users' personal information was exposed...

Read More
Number 2S Challenging Hero Image 2
Analysis: Can Zoopla, Realtor.com and Domain See Off Challengers and Close the Gap to Market Leaders?

Well-funded challenger portals have been generating a lot of headlines in the industry recently. CoStar has been explicit about its...

Read More

Editor's Pick