Blockchain real estate startup closes funding round to expand investments in digitized real estate

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Investors led by Archetype include Coinbase Ventures, Dragonfly Capital, Solana Ventures and ParaFi, among others Parcl has 15 full-time employees but hopes to expand its workforce to 25 by the end of the year Parcl, a startup that digitizes real estate investments via the Solana blockchain, raised a $4.1 million seed round on Tuesday earmarked for marketing and human resources. The New York-based company has 15 full-time employees but aims to increase its workforce to 25 by the end of the year, co-founder and CEO Trevor Bacon told Blockworks. “It's a difficult hiring environment, but we've got it with our team...

Blockchain real estate startup closes funding round to expand investments in digitized real estate

Finanzierung
  • Unter der Leitung von Archetype werden unter anderem Coinbase Ventures, Dragonfly Capital, Solana Ventures und ParaFi zu Investoren
  • Parcl hat 15 Vollzeitbeschäftigte, hofft aber, seine Belegschaft bis Ende des Jahres auf 25 aufzustocken

Parcl, a startup that digitizes real estate investments via the Solana blockchain, raised a $4.1 million seed round on Tuesday intended for marketing and human resources.

The New York-based company has 15 full-time employees but aims to increase its workforce to 25 by the end of the year, co-founder and CEO Trevor Bacon told Blockworks.

“It is a difficult hiring environment, but we have managed to attract some of the best talent with our team and our vision,” Bacon said.

Parcl's mission is to give everyone the opportunity to invest in real estate, a market with historically high barriers to entry but consistent returns.

Parcl's protocol allows users to invest in a digital square foot of real-world real estate through its price index, which tracks the price per square foot in different neighborhoods. The platform has transaction fees but no minimum investment requirements.

"[For example], Tribeca will have a price per square foot of about $2,000, and we call that a 'package,'" he added. "'A parcel' is a square foot of a particular neighborhood, and blockchain allows you to create and trade those assets. It's essentially a way to engage in real estate."

Led by Archetype, investors will be raised by Coinbase Ventures, Dragonfly Capital, Solana Ventures, ParaFi, Shima Capital, Slow Ventures, Tribe Capital, Not Boring Capital and FJ Labs, among others.

Parcl will launch a testnet in the coming weeks along with the release and sale of a non-fungible token (NFT) collection. All proceeds, Bacon said, will be used to buy someone a home.


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The post Blockchain real estate startup launches round to expand digitized real estate investments is not financial advice.