NEW YORK — RealConnex — a networking platform connecting real estate professionals to capital, investments, and services — has closed a $3.5 million strategic financing round led by Silver Portal Capital (SPC), a boutique real estate investment and merchant banking firm.
RealConnex was founded in 2013 by Roy Abrams, a technologist-turned-real-estate-developer, to solve a problem faced by most real estate developers: funding mid-market projects and connecting them to the right capital sources and service providers. RealConnex currently has a community of 65,000 active users and a database of 200,000 companies, individuals, and funds. The company is on track to include 6,000 registered capital sources, 9,000 investment opportunities across all stages, and more than one billion dollars worth of transacted deals by the end of 2017.
Silver Portal Capital, an investment and merchant banking firm focused exclusively on real estate, will adopt RealConnex’s technology platform throughout its organization and channel partners to drive business growth.
“As one of the real estate industry’s leading investment and merchant banking firms, SPC has deep expertise and resources to help us expand our user base and deal flow,” said Abrams. “We expect to emerge as the world’s largest community where real estate professionals network, connect and transact.” Abrams added that the new funding will be used for marketing to expand the network, to build out the leadership team, and to add a range of new features.
“We see a significant competitive advantage in working with a technology partner like RealConnex,” said Jean-Louis Guinchard, senior managing principal of Silver Portal Capital. “They intimately understand professional real estate and technology, and they are poised to affect the market in a material way. Our investment will help the company scale into the largest real estate professional network.”