Konkrete, which provides a platform for tokenizing real estate assets, is in the midst of raising $3 million. The Melbourne, Australia-based company has $2 million in precommitments with Signum as the lead investor, according to Australia’s Financial Review.
“We are very excited to have the support of Signum Capital,” said Konkrete co-founder Sean Qian in a news release. “We believe that with their support, Konkrete can be a global destination for both issuers and investors in real estate assets.”
The announcement comes amid a flurry of blockchain-related real estate projects worldwide.
Konkrete’s objective is to help fund managers, property developers, homeowners and landlords to raise capital from a global investor network. The company has a special interest in making the housing market in Australia more accessible for first-time buyers. It is a joint venture between the business accelerator Collective Campus, of which Qian is also a co-founder, and Estate Baron, a real estate crowdfunding platform. Moresh Kokane is a co-founder of Konkrete and the founder of Estate Baron.
Singapore-based Signum Capital has provided financial and other support for blockchain projects, including Oasis Labs, Zilliqa, Kyber Network and MultiVac. Read more here.