Piece, a real estate investment FinTech company, is pleased to announce that it has raised a total of 2.73 million euros (approximately 440 million yen) in a seed round led by University of Tokyo Edge Capital Partners Co., Ltd. from Novaterra, East Ventures, Gaiax, KSK Angel Fund, and 15 other angel investors from Asia and Europe.
Piece was founded in May 2023 and began offering “Piece,” an online platform that allows trading of fractional ownership of real estate, at the end of the same year. It mainly deals with European real estate investment properties, and small investments can be easily made through Piece. This fall, it will officially start selling “Piece Fractional Ownership,” a security token that makes fractional ownership of real estate tradable. It will obtain an ISIN* for each property ownership and also comply with MiFID2, a comprehensive financial regulation within the EU. It offers a new form of real estate investment with features that were not possible with traditional small-scale real estate investment products such as REITs and real estate crowdfunding.
In Europe, interest in alternative finance is growing, especially among the younger generation, and there is also a strong expectation for investment opportunities in the real estate sector. Piece will start by handling properties in Italy, which combine historical charm and good condition, and plans to expand its lineup to neighboring countries such as Spain, France, and Germany.
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Piece‘s service has been praised by early users for its ability to invest in properties that are already profitable in small amounts and for the fact that all transactions can be completed digitally. With this funding, we will update our product and strengthen our team in preparation for the full-scale launch of our service in the global market.
An abbreviation for International Securities Identification Number, which refers to a 12-digit securities identification code common throughout the world, as defined by the international securities code specification ISO6166.
SOURCE: PRTimes
