Watch: What happens when fintech blurs into proptech?

Convene founder and angel investor Ryan Simonetti singles out "massive opportunity" in CRE

National /
Jan.January 20, 2022 09:30 AM

Ryan Simonetti divides real estate into four key buckets: design and development, service and operations, sales and marketing, and finance. The key to shaking up all of them at once, he believes, is applying fintech.

“There is a massive opportunity for fintech-oriented solutions to enable a lot of the movement of money and payments across that entire value chain across every asset class,” Simonetti, the founder of flex-space operator Convene and an active proptech angel investor, said in a conversation with The Real Deal’s Hiten Samtani. “From acquisitions to finance, to rent payments, all of this stuff is going to be digitized.”

He mentioned startups such as Built, which caters to the construction lending industry, and Otso, which does away with security deposits for commercial office leases.

Simonetti also discussed the commercial real estate “turf wars” playing out between service providers such as Cushman & Wakefield and JLL, large landlords such as SL Green Realty and Brookfield, integrated facilities and hospitality services companies such as Aramark and ISS, and startups such as Convene and Industrious.

Watch more from The Real Estate Interview:

“The reality is that what all of us do is converging,” he said. Some people are building out their own service businesses, others are tapping their balance sheets to do M&A, and others are partnering with startups.

Watch highlights from the conversation above, or check out the extended interview in Q&A format here.


Related Articles

arrow_forward_ios
California reaming: Pacaso taking punches in home state
California reaming: Pacaso taking punches in home state
California reaming: Pacaso taking punches in home state
199 Fremont and the Salesforce Tower, San Frasncisco (iStock, Dead.rabbit/CC BY-SA 4.0/Wikimedia Commons, Illustration by Kevin Cifuentes for The Real Deal)
Full-blown ‘flight to quality’ in San Francisco office market
Full-blown ‘flight to quality’ in San Francisco office market
Alphabet and Google CEO Sundar Pichai and 510 Townsend Street (Getty Images, LoopNet)
Google Cloud subleases 300K sf in SoMa office building
Google Cloud subleases 300K sf in SoMa office building
Steven Buster with Grosvenor and 1951 Shattuck Avenue (LinkedIn, Grosvenor, Shattuck)
Grosvenor minds gap in Berkeley resi market
Grosvenor minds gap in Berkeley resi market
Riaz Capital's Riaz Taplan with 200-220 Alice St (LinkedIn, Stanley Saitowitz, Natoma Architects, iStock)
Riaz Capital to build 210-unit complex in Oakland’s Jack London Square
Riaz Capital to build 210-unit complex in Oakland’s Jack London Square
San Francisco District 5 Supervisor Dean Preston (Getty, iStock)
Vacant-home tax poised for November ballot in San Francisco
Vacant-home tax poised for November ballot in San Francisco
Bradley Blake and Brad Griggs with 115 Town and Country Drive (Blake Griggs Properties, Google Maps)
Mixed bag of factors in $304 psf price on East Bay retail
Mixed bag of factors in $304 psf price on East Bay retail
Kaiser Permanente's Greg Adams and 1600 Technology Drive in San Jose (American Heart Association, Google Maps)
Kaiser might convert 200K sf office in North SJ to medical use
Kaiser might convert 200K sf office in North SJ to medical use
arrow_forward_ios

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

Loading...