The Real Deal New York

Blockchain real estate investing just got a $28M boost

Harbor raises new funding round
By Konrad Putzier | April 17, 2018 08:30AM

The Harbor team

Blockchain technology startup Harbor raised $28 million in a new funding round led by Founders Fund, the company announced Tuesday.

Harbor plans to build a blockchain-based platform that is compliant with U.S. laws and allows users to issue crypto-securities backed by real assets, including real estate, company shares and works of art.

Andreessen Horowitz, Pantera Capital, Craft Ventures, Vy Capital and Valor Equity Partners, Future Perfect Ventures, 1confirmation, Abstract Ventures, Signia Venture Partners and Nicolas Berggruen of Berggruen Holdings also participated in the round, among others, bringing Harbor’s total funding to more than $40 million to date.

Harbor’s expansion comes as a growing number of real estate investors turn to real estate cryptocurrencies to fund their deals.  A handful of real estate coins are already on the market.

In March, news broke that a group of investors around Shahal Khan wants to buy the Plaza Hotel and fund the deal with a $375 million cryptocurrency offering, although the deal reportedly fell apart.