NYCE, a fintech geared towards real estate investing, formally announced it became the fastest real estate company to raise $1 million through the Regulation CF, on the Wefunder and Republic investing platforms.
About NYCE Companies
In light of the COVID-19 coronavirus pandemic, the wealth disparity between different classes and demographics became increasingly apparent.
As a result, Martin Braithwaite, a soccer player for FC Barcelona, and Philip Michael, author of “Real Estate Wealth Hacking: How To 10X Your Net Worth In 18 Months,” spearheaded funding efforts for their organization NYCE Companies.
Photo provided by NYCE Companies.
NYCE is a fintech specializing in real estate investing opportunities. The company is a pioneer in the tech-driven investing space, leveraging a Robinhood-like app to allow micro-investors to buy into real estate for as low as $10.
The company’s ultimate goal is to help 100,000 Millennial and Gen Z users become first-time millionaires by 2030.
“A lot of issues you see in America are really manifestations of classism,” Michael told Benzinga in a conversation earlier this year. “Simple shifts in individual behavior could reduce the wealth gap we have today.”
After Regulation CF, or Title III of the JOBS Act was enacted by the Securities and Exchange Commission in May 2016, entrepreneurs were allowed to capture funding from non-accredited, public investors through platforms such as Wefunder and Republic, a funding tool that’s helped raise for companies like Robinhood, SpaceX, and EquipmentShare.
Using this regulatory evolution to its advantage, NYCE raised $1 million in five months.
“It’s an important milestone but we still have a long way to go,” Michael said. “I always say this, there’s been a shift in how young people think about money.”
Adding, to encourage diversity of thought and growth, serial entrepreneur and investor Danny Cortenraede joined NYCE in an advisory capacity, alongside the newly appointed operations head Nat Remy. Cortenraede, the Managing Partner of Wannahaves, sister company of the 433 family of brands, has worked alongside names such as Gary Vaynerchuk, Cristiano Ronaldo and more.
“Philip’s been crushing it with NYCE,” Cortenraede said. “We thought there were obvious synergies between our assets, Philip and [co-founder] Martin, especially from the digital side in scaling the app and branding.”
“The part that really appealed to me was the underlying real estate assets,” Cortenraede noted. “I see tremendous growth potential in that side of things, bridging gaps between Europe and the U.S. and I’m excited to jump into that with Philip and Martin.”
NYCE is filling a gap, allowing small investors access to non-opaque tools that will help them become millionaires.
Photo of NYCE Companies CEO Philip Michael.
“Up to 90% of millionaires are made in real estate, so it’s just a matter of delivering access to the asset class,” Michael noted.
Going forward, NYCE aims to leverage its team of experts in venture capital, entrepreneurship, investing, and media to help spread the word.
“Social media is one of the greatest tools for marketing and reaching the masses,” Cortenraede said in a discussion on building engaged communities. “We’ve cracked the code of monetizing that reach, building a community with more than 50 million followers and more than 1 billion views per week. That results in a multi-million dollar business with more than 200 employees within our three brands: Wannahaves, 433 & BALR.”
To learn more about bridging the socio-economic divide with real estate investing, click here.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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