Concreit to connect the world with commercial real estate investing

April 16, 2019
Share this Post: 

Sean Hsieh, the Founder of startup Flowroute, only about a year after selling the startup, has started his next endeavor with a goal to use connect the world with commercial real estate investing.

Concreit is a soon-to-be-launched Seattle startup that will give investors the ability to invest in private buildings for as little as one dollar.

“When I talk to my friends about owning a building, they just stop and go, ‘I don’t even know what to think about that, because I can’t connect with that thought,'” Hsieh said. “We’re trying to bring deals that only millionaires have access to and give them to an everyday investor for very small dollar minimum.”

Concreit has raised nearly $1 million in funding from Unlock Venture Partners, a new Seattle-based firm co-led by longtime angel investor Andy Liu. Other Unlock portfolio companies include Crowd Cow, Make.TV and Possible Finance.

Hsieh started Concreit with Flowroute Co-Founder Jordan Levy and Rui Maximo, who was formerly CTO at blockchain startups LifeID and StormX. The company hopes to launch later this year.

The idea for Concreit was inspired by Hsieh’s own finances. “After selling Flowroute, I started to figure out how to diversify my portfolio,” said Hsieh. “And private commercial real estate became really interesting to me.” Hsieh sold Flowroute to West Corporation last year for an undisclosed sum.

Hsieh plans to use blockchain technology for certain aspects of Concreit, which could enable the startup to tokenize its position in certain investments. Concreit will be a mobile-first application with game-like elements geared toward millennial investors.

Read more here

Join us in Miami Beach, June 5-7 for the Global Online Marketplaces Summit.

899

April 16, 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

Zoopla
Alto Announces Integration with Bridge AI for Zoopla Customers

Alto, part of the recently-renamed Houseful (formerly Zoopla Property Group) has announced a new integration with Bridge AI. Bridge AI...

Read More
Yandex Bleak Houses
Rumoured Sale of Russian Giant Yandex to Consortium That Owns Rival Avito

Forbes is reporting that Russian marketplace giant Yandex is in talks for a buyout by a Russian-led consortium of investors....

Read More
Shutterstock 750308431
Swiss Marketplace Group Announces Move Fribourg

Swiss Marketplace Group (SMG) has announced that the company is gearing up to move its regional office from the small...

Read More
Offr Founders 1
Irish PropTech Offer Raises €2.1 Million and Looks to the U.S. Market

The Irish PropTech company Offr has raised €2.1 million in an oversubscribed funding round co-led by the investment arm of...

Read More

Editor's Pick