Venture Capital News: RealConnex Secures $3.5M
2017-03-09
NEW YORK, NY, RealConnex today announced the closing of a $3.5M strategic financing round led by Silver Portal Capital.
RealConnex, the world's first B2B platform connecting real estate professionals to capital, investments, services and each other, today announced the closing of a $3.5M strategic financing round led by Silver Portal Capital (SPC), a boutique real estate investment and merchant banking firm.
RealConnex was founded by Roy Abrams, a technologist-turned-real-estate-developer, to solve a problem faced by most real estate developers: funding mid-market projects and connecting them to the right capital sources and service providers. RealConnex currently has a community of 65,000 active users and a database of 200,000 companies, individuals, and funds. The company is on track to include 6,000 registered capital sources, 9,000 investment opportunities across all stages, and more than one billion dollars worth of transacted deals by the end of 2017.
Silver Portal Capital, an investment and merchant banking firm focused exclusively on real estate, will adopt RealConnex's technology platform throughout its organization and channel partners to drive business growth.
'As one of the real estate industry's leading investment and merchant banking firms, SPC has deep expertise and resources to help us expand our user base and deal flow,' said Abrams. 'We expect to emerge as the world's largest community where real estate professionals network, connect and transact.' Abrams added that the new funding will be used for marketing to expand the network, to build out the leadership team, and to add a range of new features.
'We see a significant competitive advantage in working with a technology partner like RealConnex,' said Jean-Louis Guinchard, senior managing principal of Silver Portal Capital. 'They intimately understand professional real estate and technology, and they are poised to affect the market in a material way. Our investment will help the company scale into the largest real estate professional network.'
About RealConnex
RealConnex is the world's first B2B platform aggregating the commercial real estate community and connecting its members to capital, investments, and services. The company was founded in 2013 by Roy Abrams, a 25-year veteran of the real estate and technology industries, who set out to create the leading platform where commercial real estate professionals could network, prospect and connect to expedite transactions.
About Silver Portal Capital
Silver Portal Capital, a registered broker-dealer and FINRA member, is an investment and merchant banking boutique focused exclusively on the real estate sector. The firm provides a full complement of strategic and financial advisory and capital raising services for high-quality private platform operators, public REITs/REOCs, non-traded REITs, and significant projects. The firm also has a very robust 1031 exchange and Delaware Statutory Trust advisory and transaction platform. The firm's highly experienced partners have advised on projects and raised capital worth more than $20 billion for the real estate industry in more than 150 transactions.
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