Concreit Raises $6M in Funding

real estate

Concreit, a Seattle, WA-based diversified real estate investing company, raised $6m in seed funding.

The round was led by Matrix Partners with participation from Hyphen Capital, as well as individual investors including Jon Stein, founder and CEO of Betterment; Andy Liu, partner at Unlock Venture Partners; and investor and advisor Ben Elowitz. In conjunction with the funding, Dana Stalder, general partner at Matrix, will join the Concreit board of directors.

Led by CEO and founder Sean Hsieh, Concreit is a private real estate investing company offering a mobile app that allows consumers to invest into a fund managed by a team of investment professionals. Investors can open an account and make their investment on their mobile device. The platform facilitates weekly earned payouts, automated investments and on-demand withdrawals, while compounding earned payouts weekly.

Concreit’s first private REIT fund, focused on passive income, consists of lower-risk fixed-income private market residential and commercial real estate first-lien mortgages.

FinSMEs

17/09/2021