The blockchain-powered real estate sales engine has raised investment from the US National Association of Realtors.
The Silicon Valley-based firm announced it had received an undisclosed amount from the association’s real estate technology fund, called Second Century Ventures.
Propy said the partnership will help leverage the NAR’s network of 1.3 million realtors and its community of real estate and tech executives.
Founded in 2015, Propy developed a platform that brings together all parties involved in the transaction process, allowing users to buy and sell properties with any major currency, including fiat and cryptocurrency.
Natalia Karayaneva, CEO of Propy, said: “We believe Propy is at the forefront of bringing automation and blockchain to real estate with its easy-to-use platform for agents, buyers, and sellers.
“Working with Second Century Ventures and NAR executives will help achieving adoption of our products. We look forward to the next chapter in order to better our business tactics and goals at Propy.”
Propy is also one of eight proptech companies taking part in the NAR Reach accelerator programme, which is targeted at companies developing technologies such as e-signature, analytics, banking, financial platforms and marketing services.
Other members of the 2019 cohort include:
- Amarki, an automated marketing platform for real estate professionals that unifies their favourite systems in one place.
- Evocalize, technology that makes sophisticated digital marketing simple and helps brokerages and agents collaborate to generate demand when and where it’s needed.
- Curbio, which agents deliver exceptional results for home sellers through ROI-focused, pay-at-close renovations.
- Kleard, a safety and productivity app that provides real-time verification for open houses and showings.
- Ratemyagent, a digital marketing tool designed to help agents easily collect, share and promote verified client feedback.
- Reconsortia, a crowdsourced referral consortium that builds transparency, enhances professionalism and provides a better customer experience.
- Staging & Design Network, an online shared rental pool and resale gallery for home furnishings built for the real estate and home staging communities.
Through the programme, Propy and the other startups will have access to more than 250 mentors, 1.3 million realtors, 73 global partnerships and key industry events.
Bob Goldberg, CEO of NAR, said: “We are excited to welcome the 2019 NAR REACH Class. Each of these companies understands how important technology is to the real estate industry and to driving innovation that allows realtors to remain hyperfocused on the consumer. We are eager to help accelerate their growth in real estate and beyond.”