BuiltUp Ventures invests in cryptocurrency proptech firm, SolidBlock

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

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