The Graz FinTech Brickwise brings interested investors and real estate sellers together on a marketplace and enables them to trade digitized real estate shares. For this purpose, real estate is divided into small digital parts and transferred to a blockchain-based register that works like a digital land register.
Denomination of real estate
Thanks to the division of real estate into shares, Brickwise is opening the real estate market for the first time to investors who previously had no access to the real estate market due to the usually very high entry prices.
According to Brickwise, what is special is that investments are not made in future or as yet undeveloped projects, but exclusively in fully financed existing properties. Investors, like apartment or house owners, should participate in the monthly rental income of the property’s value development.
The smart contracts enable secure trading between investors, as transactions take place automatically as soon as the payment has been made.
Investment for market maturity
As the startup announced on Thursday, Brickwise has now closed a six-figure investment round. However, the investors were not named. When asked by the incubator, explained Co-Founder and Managing Partner Michael Murg that it is a “strategic investor from the real estate industry”.
With this investment, Brickwise has brought the platform, including the associated blockchain, to market maturity and is now in the middle of preparing for the market launch. With the market launch, real estate should be available to investors in Vienna, Graz and Carinthia. Interested investors can register for the pre-launch phase on the Brickwise website.
The Brickwise founding team consists of IT specialists and capital market experts around the Graz finance scientist Michael Murg. As head of the Institute for Banking and Insurance at FH JOANNEUM, Murg has been dealing with the digitization of business models, data analytics and the possible uses of blockchain technology in the financial market for many years.
On the basis of his scientific findings, he developed the solution together with the lawyer Klaus Pateter who specializes in digitization and technology law, the compliance expert in the banking and securities sector Marco Neumayer and the blockchain and cybersecurity specialist Valentin Perkonigg.