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Category Archives: Fintech and Real Estate

FinTech and Its Benefits

Guest Post | Nov 3, 2022

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It’s human nature to constantly search for more convenient and accessible ways of living. This continuous struggle started the digital revolution and simultaneously established the importance of technology. Due to the multiple advantages of using technology, there is no field or industry where technology isn’t playing its part. One example of incorporating technology is FinTech, which brought a digital revolution to the financial sector. This article briefly discusses what FinTech is and its advantages in different aspects.

What Is FinTech?

FinTech is a combination of the words financial and technology. It refers to the innovative use of technology in the financial sector, its services, and its products. Any gadget, software, or app that works for simplifying and digitizing financial processes and transactions falls under the category of FinTech.

FinTech includes technology in money transactions, savings, investments, crowdfunding, cryptocurrency, blockchain, and more. Due to its diverse and robust applications, FinTech drastically improves traditional financial services such as loans, investments, savings, and bills by making them more accessible and advanced. Initially, FinTech companies were considered competitors to traditional banking systems. However, as its working became common knowledge, people realized that these approaches were combined to achieve efficient outcomes.

What Are the Benefits of FinTech?

Like other technologies, FinTech has drastically revolutionized the financial sector. Here are some ways it has benefited the financial industry:

1. Secure and Personalized Services

Traditional banking systems aren’t secure, and individuals must look after their money alone, especially during transactions, cash withdrawals, and account opening. However, with FinTech’s help, financial security is prioritized, as modern technology minimizes the risk of loss and physical theft. The possibility of cyber theft still exists in digital payment but can be countered by incorporating updated cybersecurity software when a FinTech app is being developed.

FinTech apps have a real-time tracking feature, which improves the transparency of the process. Additionally, since FinTech utilizes big data analytics and artificial intelligence, it can tailor customer services according to the exact requirements.

2. Mortgage Loans

Apart from secure services, FinTech also ensures a smooth and quick customer experience. For instance, mortgage loan lending is one of the most common services provided by banks. It is a time-consuming process with lots of documentation. Incorporating FinTech into the mortgage lending process helps simplify documentation, offers easy customer access, and decreases the total time consumed.

This process can be confusing for first-time mortgage lenders. For assistance, contact a company that provides professional help regarding mortgage loans. For example, Mortgage Maestro will give unbiased advice and the best mortgage rates Canada offers.

3. Cost-Efficient

Using new cutting-edge technology is seen as expensive and uneconomical, which makes people avoid using them. However, this is a misconception. FinTech lets you incorporate various financial tools into your banking system or online payments. These practices are cost-efficient in the long run. Most of these financial tools, such as PayPal and Venmo, don’t have any hidden charges or cancellation fees apart from the known percentage that gets deducted per transaction.

With the help of these tools, you can easily send or receive money locally or internationally in different currencies simply with a few clicks on your phone. FinTech applications also help customers save money by linking their credit cards with their bank accounts. Connecting your credit cards lets you contact multiple credit card offers and packages and allows you to choose a feasible option. Often users keep their savings in one account and hold credit cards from other banks, which leads to complications in transactions and deductions of a certain amount of money.

4. Robo Advisors

One of the newest and rapidly developing sectors of Fintech is the use of Robo advisors. Robo advisors or chatbots are automated solutions developed via artificial intelligence and machine learning technologies. These bots address all customers' queries and concerns with fast-generated and accurate solutions.

Initially, many questioned Robo Advisors' use because of the lack of human touch and the probability of error. However, the Robo advisors implemented in FinTech are now developed with self-learning algorithms. They use big data analytics, which leads them to provide personalized and comprehensive customer service. Robo advisors find their direct applications are customer onboarding, asset allocation, estate planning, and more.

Endnote

Over the past few years, trends and priorities of the financial sector have entirely changed, with the focus shifting towards FinTech companies and tools. Traditional financial institutes and banks can feel that this means losing business. However, that is not the case because conventional economic systems must work together with FinTech companies to achieve maximum output and efficiency. You get the most efficient response by incorporating FinTech tools and apps into existing banking systems.

See:  Plaid’s Annual ‘Fintech Effect’ Report Shows 84% of UK Consumers Use Fintechs to Manage Money

If you or your company is still skeptical about FinTech’s impact and importance. In that case, the benefits discussed above can help you decide whether to incorporate the technology in your financial sector or not.


NCFA Jan 2018 resize - FinTech and Its BenefitsThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Toronto’s Quiet Tech Boom Isn’t So Quiet Anymore

Nov 1, 2022

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Back in March of this year, the New York Times ran an article entitled “Toronto, the Quietly Booming Tech Town,” in which it profiled the city’s up-and-coming status as a world-class tech destination.

The article is informative, well-researched and well-considered. But the title? Perhaps in the interest of clicks, the title makes a couple of backhanded suggestions. To start, Toronto is no "town." Not only is Toronto the largest city (by a mile) in Canada, but it's also the fourth-largest in North America, trailing megalopolises New York, Mexico City and Los Angeles.

Granted, using the word “town” might have been a prosaic nod to the way we’ve always discussed mercantile entities (‘London is a shipping town on the Thames,’ for instance). But it’s the title’s other qualitative description that appears particularly understated: “quietly.”

Toronto’s tech boom isn’t so quiet anymore. It’s an innovative, full-throated and expansive burst of creative energy. In this article, let’s build on that well-meaning NYT article by evaluating the key stats, central drivers and pivotal players in Toronto’s tech boom.

The Stats

Technology and the investments that buoy it are fundamentally interested in data. So perhaps the best place to start is to look at the stats. Here are a few pertinent statistics that point to Toronto as a world-class tech city:

  • As the Old Gray Lady correctly points out, Toronto is the 3rd largest tech city in North America. The only cities ahead of it are New York and Silicon Valley – both of which enjoyed a massive head start and geographical connection to investment hotspots. The fact that Toronto bests Chicago, Austin and Miami is reason enough to take it seriously.
  • Toronto is home to several big tech company offices, including Google, Microsoft, Uber, Twitter and eBay.
  • The city rakes in $5.4 billion in startup investment. That figure is forecasted to grow alongside the city’s widening talent pool.
  • Canada, and by extension Toronto, boasts the most liberal immigration policy in North America (one of the most liberal in the world). See “The Drivers” section below for this stat’s significance.

Stats can only tell you so much about a scene. To round out the portrait of Toronto's tech boom, let's look at some drivers and prominent players.

Drivers and Main Players

A list of the big tech players in Toronto reads like a “who’s who” of global companies. But, arguably, it’s the up-and-coming, homegrown tech innovators that lend legitimacy to Toronto’s boom status. Canadian-grown companies like Nobul are leading the charge. The real estate digital marketplace founded by innovator Regan McGee is currently disrupting the real estate industry across North America. And it’s doing so from the comfort and cool of a downtown Toronto office.

As for driving factors in Toronto’s boom, leading financial experts point to two things: universities and immigration. The city’s post-secondary institutions have several competitive tech programs that consistently churn out big thinkers, talented engineers and leading developers. And Canada’s liberal immigration policies (see above) make Toronto a “brain gain” meeting point for countless foreign-born professionals.

The Future

Toronto’s tech boom might have been quiet a half-decade ago, but it isn’t anymore. The city’s big tech investments, scrappy startups and homegrown success stories prove that Toronto is a tech city on the rise.

See:  Real Estate 3.0: How Affordability and Fintech Are Driving the Ownership Revolution

The future looks bright for the northern star as it continues to welcome highly trained professionals and innovators into the fold.


NCFA Jan 2018 resize - Toronto's Quiet Tech Boom Isn't So Quiet AnymoreThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Pros And Cons Of Buying A House During A Recession

Oct 30, 2022

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A recession might feel like the worst time to invest in a new property. Home prices can rise and fall at any point in time. But it can also be the best time to get a great deal. If you are confused as to whether to buy a house during a recession, worry not! In this article, we will discuss the pros and cons of buying a house during a recession and everything in between.

What Is Recession? 

A recession is a phase of temporary downfall in the economy during which the different activities related to trade and industry are affected. It is mainly identified when there’s a negative growth in two successive quarters.

Does Recession Have An Effect On House Prices?

Yes, a recession has an adverse effect on house prices leading to or causing a huge depression in it. Poor economic conditions mean the potential homebuyers don’t have enough disposable income to purchase a home.

See:  Top Investors Advice To Prepare For The Next Decade

When there’s a drop in demand for properties, home prices also drop, and so does the income from real estate. However, the recession might cause a rise or fall in real estate prices, but volatility can take any direction.

The Pros Of Buying A House During a Recession

Purchasing a house during a recession might not sound like the best deal, but there are many pros related to it. Here are some of the definite benefits:

Lower Prices: Most people tend to save during this period, so there will be fewer homebuyers, which means the properties will remain in the market for a long time. The sellers might drop their prices so that their properties can get sold at the earliest. In this scenario, you might be able to save a lot of money and get a home within your designated budget.

Seller Concessions: If the property has been there in the market for a longer time, the seller might agree to pay the closing costs. The closing costs which you can save on include appraisal fees, title insurance, and much more.

Lower Mortgage Interest Rates: It is common that interest rates on a mortgage get  lowered during this period. Many banks offer lower rates, so you have to pay less interest for the home in the long run. Purchasing a new home during this time can provide significant savings, mainly depending on the mortgage rate pattern.

The Cons Of Buying A House During a Recession 

There are various downsides as well when it comes to buying a new property in the middle of a recession, here are some of them:

Job Uncertainty: During typical recessions, unemployment rates may rise and that can increase the possibility of losing your job. It is imperative that you consider your job security as you will have to pay the mortgage.

Banks Might Not Lend Money: The economy can take a toll on anyone’s job, and banks know this pretty well. So, lenders are less likely to provide mortgages to the public in this economic environment to avoid foreclosure. Even when you’ve followed all the tips for successful mortgage application, it might get rejected.

Difficulty In Selling Old Home: If you want to sell your current home to fund your purchase of a new one during the recession, it can be a problem. You might  get less money than expected considering dipping housing prices, or worse  your house might remain unsold for a longer duration. The situation can vary depending on the location.

Which Expenses Can You Come Across After Buying A New Home?

There are different expenses that you come across as a homeowner, one of them being routine repairs. Investing in a home warranty will help you in this case and save you from paying any extra money in this period. All you will need to do is pay a yearly premium for their services.

Krupesh, founder of HomeWarratyReviews says, “With the US on the brink of recession, it is essential for homeowners to be prepared with emergency funds for various needs such as house repairs, taxes, maintenance etc”.

Other expenses that you can come across as a new homebuyer can be mortgage and insurance. So, you should be careful enough to calculate the recurring expenses and act accordingly.

Conclusion 

Buying a house during a recession can be difficult but not impossible.To prepare for the future, as a new home buyer, you should begin by doing your research. There are various pros and cons of buying a home during a recession that you must consider.  This way, you can make the right decision and settle down on the best property within the budget.


NCFA Jan 2018 resize - Pros And Cons Of Buying A House During A RecessionThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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The Role of AR and VR in Modern Real Estate

Guest Post | Sep 28, 2022

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Augmented Reality and Virtual Reality (AR and VR, respectively) have transformed several industries since their expansion in the last decade. As companies like Oculus VR, Nvidia and Snap democratized the technologies for private and small-business use, industries found several unique uses for the emerging tech.

In retail, companies use AR to help consumers pick furniture, try on outfits before purchasing and test different house paint colours. Hospitality chains have leveraged VR to offer guests a detailed showcase of their luxury rooms and amenities. And the medical industry is currently utilizing AR and VR to train students and professionals without human subjects.

With seemingly limitless possibilities, it’s no wonder the emerging technologies are currently disrupting the real estate industry. As real estate thought leader Regan McGee explains, “Anytime you bring innovative technology to the table that can make the process easier, it will be viewed as disruptive.”

He explained in his interview with Superb Crew that “Incidentally, technological advancements are beginning to gain real traction in a stalwart industry that was initially skeptical.”

How are AR and VR gaining traction in the traditionally low-tech industry? This article explores a few roles these immersive tools play in modern real estate.

Property Tours

The first and perhaps most important use for AR and VR is in property tours. Since the beginning of the pandemic, real estate agents have utilized AR and VR to offer prospective buyers a contactless yet immersive way to evaluate homes.

Although most in-person tours have since resumed, the technologies continue to remain in use. AR and VR property tours allow “sight-unseen” buyers to experience the property from their remote locations. And local buyers use these tools, too; with AR and VR, a local buyer can tour several homes in an afternoon without leaving their desktop or mobile phone.

Staging and Marketing

Some forward-thinking real estate agents have started using AR and VR in their staging and marketing efforts. With VR, a real estate agent can elevate an online listing by including a 360-degree panorama of the various spaces. And using AR, agents can add furniture, art and other design elements without spending excessive time and money on staging.

See:  Lethbridge College heading into metaverse with online campus

The consumer can also get in on the action by superimposing their own design choices on the space using a personal AR app. They can test different wallpapers, paint choices and even structural features before they make an offer.

Neighbourhood Showcases

Some VR companies won’t stop at interiors – they also offer immersive neighbourhood tours for remote buyers. Prospective real estate buyers can take a virtual reality stroll down the neighbourhood block to evaluate amenities, schools, parks and playgrounds.

Real Estate Development and Construction

Virtual and augmented reality tools don’t just have consumer-side applications; developers and construction companies are also using the emerging technologies. Architects, developers and construction companies are using these immersive technologies throughout the design and building phases of new properties. VR lets architects plan, tweak and visualize blueprints far easier than physical models. And VR allows developers and construction crews to collaborate during the building process.

As augmented and virtual reality tools become more ingrained in culture, you can expect their use in the real estate industry to grow accordingly. Already, AR and VR are revolutionizing property tours, marketing, staging and construction. Who knows what their roles will be in the future?


NCFA Jan 2018 resize - The Role of AR and VR in Modern Real EstateThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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How Proptech Is Changing the Real Estate Game

Guest Post | Sep 26, 2022

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While it doesn’t seem like anyone is ready to purchase real estate completely virtually without physically seeing it with their own eyes (and having the property inspected by a licensed professional) anytime soon, technology, specifically proptech, is shaping how current and future real estate transactions are getting done.

Certainly, when technology makes for greater accessibility, security and more seamless transactions, homebuyers and professionals alike will see no other alternative, especially those buying and selling in the downtown core.

These are just a few examples of how proptech has already impacted real estate transactions in Ontario.

Artificial Intelligence and Automation

One of the biggest complaints from real estate agents is that they spend too much time on repetitive administrative tasks. These tasks cost them money when they are taken away from tasks that earn them money, like market research, speaking with clients and closing sales.

Using automation for back office tasks and AI to provide virtual guided tours, respond to emails, recognize potential leads allows real estate agents to optimize their time on more lucrative tasks.

Analytics and Big Data

Using big data to aggregate both historical and real-time data to track patterns, trends, prices, demographics, etc., real estate professionals can:

  • Get a more realistic picture of a property’s future risks and opportunities based on geography and other variables.
  • Forecast property prices based on large data sets.
  • Target their properties to more interested buyers.
  • Develop property based on predictions of which amenities would fit potential residents.
  • Better predict investment risks.

 Virtual Showings and With Augmented and Virtual Reality

Using virtual reality (VR) and augmented reality (AR) in the home buying process makes viewing multiple homes simutaneoulsy more cost- and energy-efficient. While virtual purchasing hasn’t replaced the need for site inspections, it has certainly saved a lot of time and expense for potential homebuyers.

VR and AR tech also allows buyers and designers to collaborate in realistic virtual spaces, making it easier to ‘see’ a space with different furniture, flooring and other home improvement options.

Blockchain

Blockchain provides safe, secure and transparent cryptocurrency transactions more efficiently and securely than traditional financial transactions. Thousands of computers are used to verify encrypted transactions and ensure the security and integrity of financial records. There is also the possibility of storing property information in the blockchain, which makes it more secure, accessible and easier to update.

Other Examples of Common Proptech Currently in Use

See:  Real Estate 3.0: How Affordability and Fintech Are Driving the Ownership Revolution

Real estate tech companies have invested heavily in ways to facilitate sales and rentals by offering:

  • Property search platforms like listings and marketplaces.
  • Property sales and closing tools.
  • Financing solutions including mortgage lender software and alternative financing.
  • Property management solutioins.
  • Loan management systems.
  • Evaluation and construction planning and management tools.

NCFA Jan 2018 resize - How Proptech Is Changing  the Real Estate GameThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Real Estate 3.0: How Affordability and Fintech Are Driving the Ownership Revolution

NfX | Pete Flint | Sep 2022

Real estate as a percentage of real assets - Real Estate 3.0:  How Affordability and Fintech Are Driving the Ownership Revolution

Affordability issues breeding innovation:  Real estate has always been more than just the largest asset class in the world. It is the embodiment of home and work, family and business – the opportunity of generational wealth, writ large. The American dream.  One that has become increasingly out of reach to most Americans. Paths to ownership of real estate are expanding. What “ownership” even means is also expanding. Affordability and access to traditional home ownership has only eroded since the housing bubble in 2008, as lending standards tightened and home prices have soared in recent years. And yet, restriction breeds innovation and market changes create opportunity. From the front lines with proptech Founders, we’re seeing early signs of a real estate revolution.

See:  Vancouver Proptech Startup addy Launches Canada’s First Crowdfunded Real Estate Investing App

Real Estate 1.0: The Information Revolution:  The first phase of tech adoption in the home-buying process was Real Estate 1.0, an information revolution enabled by the internet. The problem was the lack of information about one of the most important financial decisions a person can make: buying or selling a home.

Real Estate 2.0: The Transaction Revolution: Streamlining the user transaction experience is at the core of Real Estate 2.0. We continue to look for ways to make it easier to transact in this space by reducing friction, cost, and uncertainty within the buying and selling processes. In the last few years we have seen several innovative transaction models take root.

Real Estate 3.0: The Ownership Revolution

In Real Estate 3.0, the very concept of ownership is what’s at play. Ownership structures and mental models are both changing.  When you can digitize, take out cost, and break apart the ownership model, we see things change quite meaningfully.

  • What if, instead of paying rent forever, those rent payments earned you fractional pieces of your house (or your business’s property)?
    • Divvy is one example of this. It is a service designed for people who, to use the company’s own words, are “not ready for a mortgage.” Divvy offers them an alternative pathway to ownership: you pick out your home, Divvy buys it, you put down 1 to 2 percent of the selling price (much cheaper than your traditional down payment), which goes directly into a fund for your future down payment. Then, you rent from them at market rate for about three years. But 25% of that rent is put toward a down payment nest egg, rather than into the landlord’s coffers.

See:  How Proptech is changing the real estate industry

  • What if you could own slices of other people’s homes as an asset, and sell them as easily as you would a share of GOOG on the Nasdaq?
  • The idea that home ownership can be both fractional and/or a widely available asset class is an interesting development that increases access for more consumers to participate in the larger real estate market.
    • Pacaso is an example of a company embracing the fractional ownership idea. Pacaso buys luxury vacation homes, converts them into LLCs, and allows people to buy an equity stake in those homes through that LLC. In return, they get to stay in the home for as much time as that stake allows. For example, you might own 1/8th of a house, and get to stay there for a few months at a time.  It’s a model that supports a nomadic lifestyle, or opens the door to second-home ownership – both of which are not the norm, but which onboard a number of new users into the market nonetheless.

Continue to the full article --> here


NCFA Jan 2018 resize - Real Estate 3.0:  How Affordability and Fintech Are Driving the Ownership RevolutionThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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Real Estate Fintechs Feel the Heat as Macro Trends Unfold

TechCrunch| Mary Ann Azevedo | Aug 28, 2022

Real estate - Real Estate Fintechs Feel the Heat as Macro Trends UnfoldThen 2022 came

In 2020, historically low interest rates led to a surge in both rates and purchases. Existing home buyers rushed to alter the terms of their loans and aspiring home buyers took advantage of those low rates to purchase homes.  More people were spending more time at home than ever due to COVID and many needed more space. Many relocated to new homes due to remote work possibilities.

This led to a boom in business for startups catering to home buyers. Companies (like digital mortgage lender Better.com) couldn’t keep up and had to go on a hiring spree to meet all the consumer demand. Venture dollars flowed into proptech after proptech.

See:  The Growing Relevance Of Bitcoin In Real Estate

Then 2022 came:  Mortgage interest rates, which began their ascent in 2021, continued to climb…significantly. Prospective home buyers, turned off by the rate surge as well as the competitive and overheated housing markets, began to reconsider their plans, as buying was suddenly far less appealing so they turned to rental markets like Rentola.

  • At the same time, as the venture market slowed dramatically and suddenly, raising capital was much harder.
  • Layoffs in the sector began — and they took place in a range of real estate tech companies, big and small.
    • Digital mortgage lender Better.com (first round of four layoffs; you can read that here)
    • Real estate tech startup Reali announced last week that it had begun a shutdown

Many fintechs are now focusing on nonprofits

Last week, I came across, or was pitched, several tidbits of news that made me realize that an increasing number of fintech companies are launching products to help nonprofits and charities more efficiently move, raise and distribute more money.

  • First up, fintech startups Highnote and GiveCard said they are partnering to help nonprofits, shelters and governments issue prepaid debit cards to the “financially vulnerable” communities they serve.  Studies show direct cash payments can put people on a path to permanent housing and end their reliance on predatory lenders.

See:   Why BNPL Swedish giant Klarna has sights set on Canada

  • Los Angeles–based B Generous, a self-described “fintech for good” platform, has launched Donate Now, Pay Later (DNPL), a new tool it says allows donors “to make contributions to their favorite nonprofits through a proprietary philanthropic credit product called a Point of Donation Loan
  • PayPal is expanding further into the charitable donations business with its August 25 launch of support for Grant Payments.

Continue to the full article --> here


NCFA Jan 2018 resize - Real Estate Fintechs Feel the Heat as Macro Trends UnfoldThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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