Bulgaria’s Propy, a Blockchain based mostly Actual Property Funding Platform, Secures Investments from Tim Draper, Different Angel Traders

Propy, the US-Bulgarian blockchain-based platform for conducting actual property transactions, has reportedly acquired an funding from Tim Draper, the legendary enterprise capitalist who has launched and supported many profitable companies throughout his intensive profession.

Propy, which had performed an preliminary coin providing (ICO) to lift funds, had claimed final yr that its native PRO token was rebounding after it crashed together with the remainder of the crypto-assets throughout the prolonged bear market of 2018.

The Propy staff had additionally claimed (in mid-2019):

“Propy is an instance of a crypto-based know-how system that’s absolutely purposeful at the moment. It isn’t one of many ICO bubble cash that rose and fell throughout the peak of crypto mania. Propy is an actual firm, and its utility token, PRO, has worth as a result of the corporate affords providers. Not each crypto mission can be a functioning firm. For that reason, Propy has a greater declare at worth than many.”

On October 3, 2020, the Propy staff revealed that together with Tim Draper, different traders in its operations embody Second Century Ventures’ REACH program, Michael Arrington, EAJ (Escrow Agent Japan), and several other angel traders.

Propy’s administration famous that the true property sector is being remodeled with revolutionary applied sciences that ought to make life simpler for traders and property sellers. For example, blockchain or distributed ledger know-how (DLT) based mostly platforms could also be used to higher handle transactions.

The Propy staff recommends embracing the newest Fintech options as a way to enhance the home-buying course of by making it extra clear, safe, and environment friendly.

Natalia Karayaneva,  Founder and CEO and Propy, explains that she realized that there was a necessity for higher methods to conduct enterprise whereas she was working as an actual property developer. Karayaneva famous that a few of her purchasers had been taken with investing in properties remotely, nevertheless, they had been involved about safety and weren’t too assured in making offers on-line. It was at the moment that Karayaneva realized that it was pretty simple to buy most gadgets or merchandise on-line, but it surely wasn’t as easy when it got here to buying actual property.

Propy has now developed an answer that could be used to simplify the method of constructing actual property transactions on-line. The corporate claims it has applied a user-friendly or intuitive platform that enables purchasers “to make a suggestion, signal a purchase order settlement, make safe wire funds, and obtain the title deed by way of its streamlined, compliant platform.”

Brokers might use Propy’s platform for closing offers remotely and in a safe method.

Draper claims:

“Propy’s answer for property gross sales eliminates fraud and makes the closing course of safer, efficient and streamlined. We’re thrilled to be backing this revolutionary staff, and we sit up for Propy automating and simplifying the true property business.”

Karayaneva added:

“My imaginative and prescient for Propy is to deliver self-driving actual property transactions to the world, with the entire logistics seamlessly executed on the back-end. With Tim’s help, we’re excited to deliver much-needed change to the business, fulfill customers, and empower actual property professionals everywhere in the world.”