Janover Inc JNVR, a B2B fintech marketplace connecting commercial property borrowers and lenders, announced that it has acquired Groundbreaker Technologies, Inc., a profitable Software-as-a-Service (SaaS) platform for commercial property professionals to raise equity capital and manage investors through an easy-to-use fintech portal.
What Happened? Groundbreaker is a specialized SaaS platform simplifies capital fundraising and investment administration in the commercial real estate industry. An intuitive portal enables real estate professionals to efficiently manage equity capital, investor relations, and document sharing, fostering a seamless and professional investment experience.
The platform also facilitates secure financial transactions and offers robust customer relationship management tools to enhance transparency and engagement between property developers and investors.
Why Does It Matter? Janover expects to convert nearly 15% of its revenue to SAAS subscription software revenue.
The acquisition complements Janover's loan marketplace with a first-in-class equity funding platform.
Blake Janover, CEO of Janover, stated, "It's important to note that this is part of our longer-term strategy of enhancing the quality of our revenue. This acquisition transitions more than 10% of our revenue to predictable, recurring, contractual subscription revenue."
"We are focused on generating high-quality, high-margin subscription revenue and will continue to add new products to our platform as we develop the premier tech-enabled solution suite for multifamily, commercial property owners, as well as small business owners across the United States."
Price Action: JNVR shares traded higher by 1.62% at $0.91 premarket Monday.
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