SolidBlock Receives Investment From BuiltUp Ventures

NEW YORK, November 12, 2019 (Newswire.com) - ​SolidBlock, a cutting-edge real estate asset tokenization platform, announced today at MIPIM PropTech NYC that it has received an investment from BuiltUp Ventures, a Tel Aviv- and New York-based investor in early-stage proptech companies. Terms of the transaction were not disclosed.

Based in Israel and New York, SolidBlock is best known for the successful tokenization of the five-star St. Regis Aspen Resort in Colorado, using the crowdfunding site Indiegogo to raise $18 million. 

Yuval Wirzberger, SolidBlock Co-Founder and CEO, said, “Partnering with BuiltUp Ventures is an exciting way to open up even more opportunities in the proptech world.”  

Tokenization splits up a tangible asset, like a property, into shares represented by tokens.  It uses blockchain, the tech core that gives Bitcoin and other cryptocurrencies their speed and security, to drive a high-speed system of distributed virtual ledgers. These securely record transactions for efficient and secure funding.  

Now, SolidBlock is bringing the power of blockchain to real estate. Blockchain offers more accessibility, transparency, security and liquidity than traditional real estate financing. This allows for fully compliant fundraising that is faster and simpler than traditional routes like real estate investment trusts (REITs).  

According to Oded Eliashiv, Managing Partner of BuiltUp Ventures, “Partnering with SolidBlock gives our firm a foothold in the growing blockchain space, bringing liquidity to real estate assets through tokenization, and adds an important piece to our 360-degree proptech solution.”

The Tel Aviv- and New York-based venture capital firm invests in the most promising Israeli startups, providing real estate players with the pieces to complete every stage of the real estate puzzle.

The executives of SolidBlock and BuiltUp Ventures were at MIPIM PropTech NYC on November 12 to unveil the partnership. Held as part of New York City’s Real Estate Tech Week, the event brings together 1,500 attendees representing the real estate industry across 50 countries for networking, learning and transaction, with premium events, conferences and exhibits. 

SolidBlock was named a Blockchain category finalist in the MIPIM Startup Competition, which recognizes the most promising and innovative startups that tackle the biggest urban challenges around the world.

Yael Tamar, SolidBlock CMO, said, “The future of real estate is here today—and together, SolidBlock and BuiltUp Ventures are leading the way.”

SolidBlock and BuiltUp Ventures are hosting a networking event to underline the value of real estate tokenization in New York City on November 13 at 7 p.m.  For more details and to RSVP, please visit http://bit.ly/NYC-event.

Please contact SolidBlock CMO Yael Tamar at yael@solidblock.co for key quotes, to set up an interview, guest post, or any other details concerning this investment partnership.

ABOUT SOLIDBLOCK

SolidBlock utilizes real estate asset tokenization – the convergence of real estate investing and blockchain technology – to transform real estate into a tradable financial product. This gives investors the opportunity to buy shares in a property without owning the entire building. For more information, visit www.solidblock.co. 

ABOUT BUILTUP VENTURES

BuiltUp Ventures invests in innovative, early-stage proptech startups. The Tel Aviv- and New York-based venture capital firm utilizes a hands-on approach and longstanding industry expertise to increase its partner companies’ opportunities for success. Focusing on the real estate sector, BuiltUp Ventures offers a 360-degree solution that encompasses the most promising Israeli startups, providing customers with the pieces to complete every stage of the proptech puzzle. For more information, visit www.builtupventures.com.

Source: SolidBlock