DiversyFund, a real estate crowdfunding marketplace, announced on Tuesday it secured $1 million during its Series A funding round. According to DiversyFund, the closing of funding round represents a significant milestone for its platform. It plans to use the additional capital to further develop online technology and product offerings on the platform. Craig Cecilio, the CEO and Founder of DiversyFund, revealed:
“Gathering capital this quickly shows that investors understand the need for change in alternative investing and we appreciate the vote of confidence from our Series A investors. We will use this capital to further adapt and enhance our technological capabilities, which will enable us to provide the everyday investor with the opportunity to invest in real estate properties previously available only to a select few.”
DiversyFund also stated it is planning to enter the cryptocurrency space by launching an Initial Coin Offering (ICO) as part of its financing plans.
“An ICO will make it easier for crypto-currency users to invest in DiversyFund and own a crypto-currency that is uniquely backed by institutional-grade real estate assets.”
Cecilio then added:
“Cryptocurrencies are a disruptive force with unlimited potential as a means of exchange. Crypto-currency investors have an eye on the future, just as we do, and they are looking for ways to diversify their crypto-currency portfolios into asset classes with more stability like real estate. We are creating the perfect marriage between industry game-changers like crypto-currency and crowdfunding and tangible real estate assets. This merger of cutting-edge technologies with time-tested wealth generating real estate has never been done and we expect it will disrupt the ICO space.”
DiversyFund now has more than 30,000 investors and currently manages over $100 million in commercial and residential real estate developments in Southern California.