This crowdfunding firm just picked the carcass of RealtyShares

The company went bust after failing to secure more funding

National /
May.May 14, 2019 05:30 PM
iintoo CEO Eran Roth (Credit: LinkedIn)

iintoo CEO Eran Roth (Credit: LinkedIn)

The remnants of RealtyShares — the now-defunct crowdfunding platform — have been scooped up by another real estate firm.

New York-based iintoo acquired RealtyShares’ assets, Inman reported. The move boosts the company’s portfolio size to $2.5 billion assets under management from $1 billion, according to the company.

RealtyShares CEO Alexis de Belloy

RealtyShares CEO Alexis de Belloy

Current and former investors in RealtyShares will be able to access iintoo’s crowdfunding platform, the report said. The deal — terms of which were not disclosed — is a joint venture between iintoo and Texas-based real estate firm RREAF Holdings, LLC, which will manage the investment porftolio.

As The Real Deal first reported, RealtyShares laid off the vast majority of its staff last year and failed to secure more funding. The startup had raised more than $63 million from venture capital players like Union Square Ventures, Cross Creek, Hone Capital and Blue Mountain, as well as Starwood Capital’s Barry Sternlicht and Chinese firm Danhuan Capital. At the time, last-ditch efforts to find a buyer for the company failed.

When the company went bust, RealtyShares was “the second largest online real estate investment platform in the U.S.,” according to iintoo. It once accepted investments of as little as $1,000, though its website currently lists the minimum investment as $10,000.

With iintoo, minimum investments start at $25,000. The company said the deal will help accelerate its global push, the report said. [Inman] — Meenal Vamburkar


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Turnbridge Equities founder Andrew Joblon, KKR co-founder Henry Kravis and the distribution center (Getty, Turnbridge)
Turnbridge, Dune land $381M loan for Hunts Point site
Turnbridge, Dune land $381M loan for Hunts Point site
Vanbarton Group’s Gary M. Tischler and Richard Coles with Marble Collegiate Church at 1 West 29th Street (Getty)
Vanbarton Group, church sued by foreign investors in fallout from HFZ debacle
Vanbarton Group, church sued by foreign investors in fallout from HFZ debacle
Northwind Group managing partner Ran Eliasaf and 165 Lexington Avenue (Northwind Group, Brooklyn North Capital)
Brooklyn North Capital, RiverBrook score $49M loan for Kips Bay condo
Brooklyn North Capital, RiverBrook score $49M loan for Kips Bay condo
One man, two companies, three bankruptcies
One man, three bankruptcies: Verrino Construction files for Chapter 7
One man, three bankruptcies: Verrino Construction files for Chapter 7
Maverick Real Estate Partners principal David Aviram and 416 West 25th Street (Google Maps and LinkedIn)
Maverick denied yet again in battle over Chelsea rental
Maverick denied yet again in battle over Chelsea rental
Whitney Duan, 432 Park Avenue, Maverick Real Estate CEO David Aviram ( Communist Youth League, Epistola8/Wikimedia, LinkedIn)
Plot thickens in case of missing Chinese mogul’s 432 Park Avenue condo
Plot thickens in case of missing Chinese mogul’s 432 Park Avenue condo
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...