Fintech Startup ALT Realtech Launches World’s First Digital RE Exchange
A Bengaluru-based Fintech start-up ALT Realtech has launched the world’s first digital real estate exchange, ALT DRX allowing investors to buy one sq ft of real-estate at a time. The start-up with an India first launch strategy has raised $1.6mn in equity and $2 mn in callable mezzanine debt for co-investing in real estate assets during its seed round. ALT DRX’s seed round saw investors participation from one of India’s top law firms, renowned family offices, successful startup founders and senior professionals from MNC’s. ALT DRX expects the new platform to solve the problem of liquidity in mid-size real estate assets and possibly open the gates for capital to move into socially relevant, rent yielding real estate assets such as rental housing, hostels, care homes, holiday homes, schools, industrial warehousing, high-street retail, hotels and managed offices. ALT DRX will allow owners of these real-estate assets to dematerialise their real-estate ownership into tokenized, traceable digitial assets. The platform will help say a 50,000 sq ft building to be tokenized into 50,000 tradable digital assets each holding an economic value proportionate to 1 sq ft of the said property.
Tags : Bengaluru Fintech startup ALT Realtech launch world first digital real estate exchange ALT DRX