Real estate investing platform AKRU gets backed by blockchain VC Draper Goren Holm » CryptoNinjas
Draper Goren Holm, a venture studio focused on accelerating and incubating blockchain and crypto startups, has announced the company’s newest portfolio company: AKRU.
The Los Angeles-based venture firm, led by Tim Draper, Alon Goren and Josef Holm, has invested an undisclosed amount in the real estate investment platform to help democratize nearby commercial real estate.
“We are very excited to welcome them to our family as Mohsin and his team have a proven understanding of the industry on an intimate level and are well positioned to become the industry leader in real estate tokenization.”
– Alon Goren, founding partner at Draper Goren Holm
AKRU is headquartered in Cincinnati, OH and offers users the opportunity to invest in prime commercial real estate for as little as $ 1,000.
At the same time, it gives asset owners access to a broad pool of investors and asset managers to further diversify their investment portfolios.
By offering fractional investment, the platform works to address and transform longstanding real estate problems such as asset illiquidity, bureaucratic hurdles, expensive middlemen, and the lack of available data and transparency.
“We are honored to work with Tim Draper, Alon Goren, Josef Holm and the great team and portfolio of Draper Goren Holm. We are excited to bring to life our vision of a more liquid and accessible market with strong partners who believe in what we want to do. “
– Mohsin Masud, CEO of AKRU
The ARKU team believes that tokenization of real estate offers unprecedented opportunity and convenience to a number of real estate players.
Masud also believes in the strength of his product so much that the company was founded in 2018 and financed itself for the next two and a half years. From there, the company raised $ 650,000 in an investor round for friends and family and recently kicked off the series with a goal of raising $ 2.2 million.
Masud knew his real estate problems firsthand and was looking for an international team of experienced managers and developers to develop the perfect solution, AKRU.
Masud also emphasizes the importance of blockchain as an immutable directory of records that has the potential to make the real estate financial ecosystem more efficient and secure.
AKRU takes advantage of blockchain technology to improve security and liquidity, but can integrate the technology in a user-friendly way.