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ALT Realtech, a Bengaluru-based fintech start-up, has made history by launching the world's first digital real estate exchange called ALT DRX. The platform is designed to allow investors to buy one square foot of real estate at a time, thus increasing accessibility to the market. The start-up's strategy is India-centric, and it has already raised $1.6 million in equity and $2 million in callable mezzanine debt for co-investing in real estate assets during its seed round.
One of the primary goals of the ALT DRX platform is to solve the problem of liquidity in mid-sized real estate assets. The hope is that it will open new opportunities for capital to flow 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 provide a solution for real estate asset owners to dematerialize their ownership into tokenized, traceable digital assets. The platform will allow a 50,000 square foot building to be tokenized into 50,000 tradable digital assets, each holding an economic value proportionate to one square foot of the property.
The seed round saw participation from investors such as one of India's top law firms, successful startup founders, renowned family offices, and senior professionals from multinational corporations. The company expects the platform to attract significant investment interest, given the opportunity to invest in real estate assets at a granular level.
ALT DRX's launch comes at a time when the real estate industry is facing significant challenges due to the COVID-19 pandemic. The global economy has slowed down, resulting in a drop in demand for real estate, particularly in the commercial and hospitality sectors. The platform is likely to attract more investment by increasing the liquidity of the market and making real estate more accessible to retail investors.
The digital real estate exchange is an innovative solution that will help democratize real estate investment. It allows investors to buy fractional ownership of real estate assets, thus opening new investment opportunities. The platform's tokenization feature also provides a transparent and secure way to invest in real estate, making it easier for investors to track their investments and receive dividends. ALT DRX's launch is a significant milestone in the fintech and real estate industries. The platform has the potential to revolutionize the real estate industry by increasing liquidity and providing greater accessibility to investors.
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