Real estate sector: startup seeks to expand in Uruguay and ventures into cryptocurrencies

platform crowdfunding Real Estate Bricksave final details to expand its portfolio of properties in UruguayAs reported Bloomberg. This collaborative business modality in the field of real estate It consists of investors generating profits through the sale or rental of properties anywhere in the world, with minimum contributions when acquiring them.

The Bricksave platform, which operates in 19 countriesexpect to raise a investment round of US$ 8 million in what his series A means, which he announced ten days ago. The company invests in real estate to later generate profitability. This figure stands at 9% per year. as a global average of the investments that Bricksave makes in different cities.

As far as Uruguay is concerned, the company expects to increase its property portfolio and estimates that net profitability in the country stands at 6% for this year. The initiative also intends to serve as a “diversification strategy”, assured Sofía Gancedo, one of the founders of Bricksave, to Bloomberg. Beyond the fact that “Uruguay complied with the stability requirement —said the businesswoman— now, there are beginning to be interesting returns in Uruguay”.

Likewise, Gancedo acknowledged that Latin American investors find it “very comfortable to invest” in Uruguay because “they know and understand it”.

The platform searches for properties framed in middle class and lower middle class housing promotion programs because they imply a higher return on investment.

On the other hand, Gancedo recognized that Bricksave will allow its users to acquire part of the properties with cryptocurrencies, like Bitcoin or Tether. platform, one fintech which is expanding, allows investors to enter the business with a $1,000 minimum.

In turn, from this year the company will offer the possibility of investing through tokens with smaller investment amounts. “When we have a token there will be no reason for the minimum investment to be US$100 and not US$1,000,” the executive told Bloomberg.

A token is a unit of value based on cryptography and ‘blockchain’, issued by a private entity so that it has a specific functionality in the digital world, with the value established by the entity.

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