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Crowdfunding

Properly, a Canadian Tech-Enabled Real Estate Brokerage, Secures CAD 44M via Series B from Bain Capital Ventures, Others

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Properly, the Canadian technology-powered real estate brokerage, reveals that it has secured CAD 44 million through its Series B financing in order to support its national expansion across Canada’s $400 billion real estate market.

As noted by the company in a blog post, Bain Capital Ventures led Properly’s financing, and was joined by investors Intact Ventures, the venture unit Canada’s largest provider of property and casualty insurance, and FCT, the national service provider in real estate tech and title insurance.

Several prominent individuals also took part in Properly’s round, including Mike Katchen (co-founder and CEO of Wealthsimple), Spencer Rascoff (co-founder and former CEO of Zillow and Pacaso) through his firm 75 & Sunny, Eric Wu (co-founder and CEO of Opendoor), Lydia Jett (Softbank Vision Fund), and Jonathan Ehrlich (Partner at Foundation Capital and former head of marketing at Facebook).

Anshul Ruparell, co-founder and CEO of Properly, stated:

“We’re creating a future where Canadians can buy or sell a home with dramatically less friction and surprising simplicity. We’re bringing best-in-class tools and services to the market to support our customers from their initial home search through to closing a home sale. As a result, we’ve experienced exponential growth, but we’re just at the start of our journey. We’re excited to use this financing to bring better services to Canadians across the country.”

Merritt Hummer, Partner at Bain Capital Ventures. said that they have invested in several high-potential Proptech firms based in the US and their investment in Properly is their “first of this kind in Canada.”

Hummer added:

“The vision that Anshul and his team have to transform the home buying and selling experience and the unquestionable need for innovation in the Canadian real estate industry is what compelled us to invest in Properly. We are proud to lead their Series B financing to help accelerate their growth plans nationally.”

Properly is currently working to make real estate transactions “genuinely frictionless.” The firm also noted that the investments from Intact Ventures and FCT will serve to complement current partnerships with large Canadian banks “to enable Properly to provide a more seamless home buying experience for Canadians.”

Justin Smith-Lorenzetti, Investment Director at Intact Ventures added:

“We were impressed by Properly’s growth and the innovative tools and services the company has already brought to the real estate industry. The company’s vision to better serve the customer, especially in major real estate markets, is important. We’re looking forward to working with Anshul and his team and supporting Properly in enabling a more seamless home buying experience for Canadians.”

Michael LeBlanc, CEO at FCT, noted:

“Investing in Properly is consistent with FCT’s desire to support innovative companies with strategies to streamline real estate transactions. We look forward to supporting Properly’s vision to advance the real estate journey for Canadian homebuyers.”

To learn more about Properly’s current portfolio of proprietary tools and services along with other details, check here.

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Source: https://www.crowdfundinsider.com/2021/07/178219-properly-a-canadian-tech-enabled-real-estate-brokerage-secures-cad-44m-via-series-b-from-bain-capital-ventures-others/

Crowdfunding

Etherisc, BCCM to Develop Blockchain-Based Insurance Prototype

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Etherisc, an open-source, decentralized insurance protocol, and ecosystem, together with the Blockchain Competence Center Mittweida (BCCM) at Mittweida University of Applied Sciences, today announced the launch of a joint project to develop a blockchain-based insurance prototype. This project aims to provide refined alternatives to traditional insurance policies by leveraging decentralized autonomous organizations (DAOs) in combination with artificial intelligence (AI) and machine learning to streamline and automate the process of insurance assessment and payment.

The Community Supported Insurance project aims to create a fair and sustainable model that can significantly reduce premiums and distribute profits regionally for charitable purposes. The parties said the use of blockchain technology will ensure transparency and fraud protection, while also providing a scalable solution that exists independent of national borders. Users can also participate in its development at the same time, helping to determine essential features as part of the community ethos of the project.

“We’re excited to be working with some of the brightest minds in the academic blockchain space,” Etherisc’s, co-founder of Protocol and Architecture Christoph Mussenbrock said. “Traditional insurance models are characterized by cumbersome claims and payout processes, low levels of transparency, conflicts of interest, and low payout amounts. Through this enterprise and academic partnership, we seek to overcome these challenges through the development of an entirely new blockchain insurance platform. This harbours immense potential for consumers in the region and beyond to benefit from truly innovative insurance products and policies.”

Etherisc and Mittweida University of Applied Sciences are collaborating on an initial proof-of-concept and pilot test, followed by the development of a final prototype for a fully-fledged decentralized insurance solution. The final prototype will incorporate technologies and frameworks such as DAOs, AI and machine learning and use these tools to reduce administrative costs, enable scalability for products, and provide transparency for consumers.

The use of a DAO enables direct customer participation in key product design and control decisions. At the same time, the project also includes an AI component to determine the risk of a claim occurring, aiding in better-designed policies and faster payout processes.

“Etherisc has an inspirational vision to make insurance fair and accessible through a decentralized open-source insurance protocol and we are excited to bring our expertise to bear in the development of a joint product,” Prof. Andreas Ittner, Head of BCCM at Mittweida University of Applied Sciences, explained. “Together with Etherisc, we are exploring methods to incorporate the latest technological developments and harness the potential of blockchain technology to create meaningful insurance solutions for the benefit of all consumers.”

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Source: https://www.crowdfundinsider.com/2021/09/180661-etherisc-bccm-to-develop-blockchain-based-insurance-prototype/

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Crowdfunding

Funding Portal Fundify Launches, Lists First Securities Offerings

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Fundify has officially announced its launch as a FINRA regulated funding portal offering securities under Reg CF (Regulation Crowdfunding).

In a company release, Josh Chodniewicz, founder and CEO of Fundify, stated:

“This is an incredible time in the equity crowdfunding market. It’s growing by triple-digit percentages year over year as everyday investors learn they can now invest in startups and founders see how technology is being infused into capital raising, simplifying the process.”

Fundify currently has multiple securities offerings listed on its site. The company said that its first securities offering for Baby Barista finished successfully at 300 percent of the initial target amount.

Chodniewicz previously founded Art.com and Allposters.com which was acquired by Walmart.

Fundify charges 6% of the raise for any successful issuer along with 1.5% in equity. If the offering is not successful, Fundify receives nothing.

Investors may participate in a securities offering for as little sa $10.

Fundify hopes to benefit from recent improvements to the securities crowdfunding ecosystem. In March of 2021, the Securities and Exchange Commission incrased the funding cap for Reg CF to $5 million from $1.07 million. The initial response from both issuers and platforms has been encouraging as a higher limit makes the exemption more viable to a broader group of firms.

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Source: https://www.crowdfundinsider.com/2021/09/180669-funding-portal-fundify-launches-lists-first-securities-offerings/

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Blockchain

DSFR, Mycashbackworld to Develop Digital Cash Back Rewards

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DSFR, a blockchain-based entity built on the robust Polygon (Matic) network, has announced a new partnership with e-commerce platform – Mycashbackworld. This will allow Mycashbackworld to leverage DSFR’s cryptocurrency payment system and wallet service to enhance its users’ shopping experience with cashback rewards.

Digital Swiss Franc (DSFR) is a Switzerland-based cryptocurrency with the aim of enabling crypto enthusiasts worldwide earns DSFRs as cashback when shopping online or offline, and to purchase goods with multiple payment options such as fiat currency, other cryptocurrencies, and DSFR itself. To achieve this DSFR has partnered with Mycashbackworld, an e-commerce platform with more than 15 million shoppers.

DSFR will leverage the benefits of the myWorld premium partner program to become the default choice of currency for shopping and a future investment for wealth creation, thereby bringing DSFR cryptocurrency to mainstream commerce. It has established an agreement with Mycashbackworld to become the top cash-back service.

myWorld shoppers can purchase goods from loyalty merchants and in return receive shopping points and cash backs. To take advantage of the cash-back benefits, customers need to register at the official Mycashbackworld website and receive the myWorld card. Most cash backs will return five per cent of the purchase and will be directly transferred to shoppers’ wallets in DSFR after requesting it either through the official website or through myWorld’s app.

DSFR allows customers to pay for their purchases using its Prepaid DSFR cards or by integrating its Crypto POS/ATMs into the retail and e-commerce platforms. Customers can shop at a discounted price and further get digital tokens in the form of cash back that grow in value with time as a cryptocurrency into their crypto wallet. A cross-merchant transferable loyalty program allows redeeming benefits with any partnered merchants at any time.

The tokens can be exchanged with other digital currencies or cashed in through crypto ATMs or online crypto exchanges. Retail partners can access loyalty programs based on analytics and link to online cash back providers to collect deals in one place for their customers. DSFR will have a one-stop cash back app that shows shoppers all offline and online deals in their area.

DSFR is based on Ethereum 2.0 (Polygon sidechain). It leverages Polygon side chain technology, to provide strong security and effectively reduce transaction time and cost. The Polygon network supports approximately 1,000 transactions per second with a confirmation time of one second or less. It’s a side chain scaling solution developed to offer scalability, higher throughput, interoperability, and strong user experience. 

According to the companies the gas fee associated with the DSFR token is 1,000 times lower than Ethereum’s while its speed is 2,000 times higher. The open-source blockchain platform aims to develop into a dApp.

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Source: https://www.crowdfundinsider.com/2021/09/180662-dsfr-mycashbackworld-to-develop-digital-cash-back-rewards/

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Blockchain

Figure Completes Digital Securities Transaction, Secondary Trading of Private Company Occurs on Blockchain

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Blockchain-based fintech Figure today announced the completion of a digital securities transaction using Figure ATS, an alternative trading system that is registered with the U.S. Securities and Exchange Commission and that is part of Figure’s Marketplace trading platform.

The trade included the minting of a fiat marker by a U.S. bank on a blockchain backed by fiat reserves, and the secondary trading of a private company on a blockchain.

“Up until now, trading in securities has been limited to a handful of legacy, centralized exchanges that are barriers to progress when it comes to offering a frictionless marketplace for trading securities,” said Mike Cagney, co-founder and CEO of Figure. “We have demonstrated the possibilities for private company stock trading and settlement in real-time without counterparty or settlement risk, on blockchain and ultimately, the ability to displace centralized exchanges.”

The Marketplace trading platform using Figure ATS allows for real-time, bilateral trading and immediate settlement of private company shares. This represents a significant improvement from the current 60-plus-day process to trade equity in private companies, the company said.

Figure completed its inaugural company secondary in September. That event saved investors and employee shareholders more than 90 per cent of the traditional fees associated with secondary trading. This translates to more than $5,000 in savings per employee that participated in the transaction.

Figure said it anticipates the Figure ATS will support dozens of secondaries with other private companies through the end of this year. Other assets will soon be available for trading on the Figure ATS, such as private equity fund interests, and other assets will soon follow on Marketplace more broadly, such as loan trading.

In conjunction with this first trading event, Figure was part of the creation of the new USDF Consortium, a developing syndicate of banks creating U.S. dollar-backed digital markers. The consortium is being organized by JAM FINTOP and the Provenance Blockchain Foundation. The consortium will operate under a common set of compliance standards to engage customers and mint USDF digital markers for use in a broad variety of DeFi transactions.

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Source: https://www.crowdfundinsider.com/2021/09/180649-figure-completes-digital-securities-transaction-secondary-trading-of-private-company-occurs-on-blockchain/

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