The German firm is crowdfunding an apartment building in Berlin
iFunded, a German investment real estate platform, has listed for investment a debt-offering of €350,000.
Investors have already funded €121,000. Meanwhile, others, including retail investors, may subscribe with as little as €500. The terms of the interest rate are 6% for a 12-month loan term.
According to reports, developers are constructing the apartment block. They have already sold three of the five units.
The company’s mission
In an April 30 tweet, the firm defined its mission. The firm wants to make global real estate investments accessible, simple, transparent, and affordable. The company further plans to meet these goals through its fully compliant blockchain-based investment platform.
Founded by Michael Stephan, the firm offers pre-vetted real estate investment opportunities. The platform enables real estate developers and builders to raise funds from both retail and institutional investors.
In September 2018, iFunded raised €4 million in Pre-Series A round of financing led by Evan Group. In addition, Torsten Pfeifer, Treuenburg Group, Creathor Ventures, CEO Michael Stephan, Torsten Pfeifer, and 32nd Floor GmbH took part in the capital raise.
iFunded is crypto-friendly
iThe firm claims to be the first real estate crowdfunding platform to accept crypto-currencies including Bitcoin and Ethereum. A subsidiary of iFunded, iEstate is a global real estate token platform that issues debt-based security tokens. It intends to implement equity-based tokens too.