Fintor, a Palo Alto, Calif.-based fractional real estate investing platform, closed a $2.5m seed funding round.
Backers included 500 Startups, Hustle Fund, Graphene Ventures, Manny Khoshbin, Mana Ventures, Cindy Bi, Skyler Fernandes, VU Venture Partners, Minal Hasan, Andrew Zalasin, Alluxo CEO and Founder Safa Mahzari, SquareFoot CEO and Founder Jonathan Wasserstrum and Teachable CEO and Founder Ankur Nagpal.
The company intends to use the funds to continue to expand operations.
Developed by serial co-founders Farshad Yousefi and Masoud Jalali, Fintor fractionalizes houses and other residential property, allowing U.S. persons to access investment opportunities in the real estate asset class starting with as little as $5.
The technology platform would allow each property to have its own offering marketed through the platform, dividing the property into shares, setting a share price, and allowing consumers to invest. Ultimately, the platform intends to enable regular trading opportunities for investors through trading windows, creating liquidity for holders while protecting against volatility.