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Real estate investing app Fintor raises $6.2M at $80M valuation
Oct 7, 2022 - TechCrunch
Fintor, a fintech startup making it easier for non-accredited investors to invest in real estate properties, has just launched its mobile app for both iOS and Android. It also just raised a $6.2 million extension funding round from its existing investors, including Public.com, Hustle Fund, 500 Global, VU Ventures, Graphene Ventures and angel investors such as Manny Khoshbin, Andy Madadian, Cindy Bi and Marcus Ridgway.
This latest round values Fintor at $80 million, founder and CEO Farshad Yousefi exclusively told TechCrunch. With the fresh funding, Fintor says it has now raised a total of $9 million from investors.
The Palo Alto, California-based company is qualified under the U.S. Securities and Exchange Commission (SEC) Regulation A to offer investors fractional shares in properties it owns. It does this by issuing shares of LLCs that own the underlying properties, Yousefi explained in an interview.
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