REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Accesswire | April 28, 2023
EquityMultiple today took another step in its evolution as a vertically integrated investment manager with the launch of its dedicated originations group, EM Investment Partners (EMIP). EMIP will help deliver on EquityMultiple's mission to provide accredited investors access to the highest quality real estate opportunities across the capital stack. EMIP primarily focuses on the middle market where it can leverage its asset management expertise to originate "win-win" transactions: bespoke financing solutions that simultaneously deliver attractive risk-adjusted return opportunities for EquityMultiple's investors. EMIP's institutional approach and proprietary network of sponsors allow EquityMultiple investors to participate in rigorously vetted real estate opportunities from quality operators.
EMIP is a natural extension of this industry leadership. Working behind the scenes at EquityMultiple, the EMIP team has originated over $400M in debt, preferred equity, and equity investments since the inception of the EquityMultiple platform, participating in transactions that account for over $4.5B in total market capitalization.
EMIP's originations approach is shaped by current market dynamics. Leveraging proprietary data, vast experience, and deep industry relationships, the EMIP team crafts a forward-looking market thesis in order to provide value to middle-market sponsors and unique deal flow to EquityMultiple's network of self-directed accredited investors. In conjunction with the launch of EMIP, EquityMultiple will be launching its first open-ended debt platform to provide borrowers with financing solutions beyond traditional banks. EMIP's first dedicated debt fund will primarily target first mortgage loans on most property types in markets with strong fundamentals, targeting low double-digit annual net returns to EquityMultiple investors. Middle-market operators seeking debt or equity financing can get in touch at eminvestmentpartners.com.
About EquityMultiple
EquityMultiple is a commercial real estate investment and technology firm whose mission is to build investor wealth through streamlined access to diverse real estate investment products. To date, EquityMultiple's investors have participated in over $4.5 billion in commercial real estate transactions through its online investing platform. The firm pairs innovative technology with real estate experience via its subsidiary, EMIP, and industry-leading investor services, to offer an unparalleled investing experience.
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REAL ESTATE INVESTMENT, MORTGAGE AND LENDING
Businesswire | May 16, 2023
Enumerate (the “Company”), the leading provider of software and payment solutions to communities, homeowners associations (“HOAs”) and other vertical markets, today announced its rebrand after a previous growth equity investment from Great Hill Partners, a private equity firm that invests in high-growth, disruptive companies. The Company’s core products, TOPS Software (accounting) and Nabr Network (engagement), will operate under the new name Enumerate moving forward. Enumerate will be led by Charlie Piper, a software industry veteran and former Great Hill portfolio company executive. Great Hill invested growth capital into Enumerate’s predecessor company, TOPS Software, in July 2021 and executed the acquisition of Nabr Network in February 2022.
Enumerate’s technology will bring together the best in accounting, operations, payments, resident engagement, and financial services in one easy-to-use and integrated platform. The investment from Great Hill will enable Enumerate to accelerate its growth plans and further enhance its product roadmap to better serve customers.
“We are thrilled to partner with Great Hill as we embark on the next phase of our growth journey as a newly-launched company,” said Mr. Piper. “Combining the collective 70+ years of industry and product knowledge that we bring together, Enumerate is well-positioned to continue innovating on behalf of our customers. Furthermore, Great Hill’s deep experience scaling technology businesses will be invaluable to our transformation as we bring new solutions to market to deliver even greater value for our customers.”
“In fragmented markets poorly served by point solutions, we believe Enumerate is uniquely positioned as the accounting system of record to deliver an integrated payments and software offering. Opportunities exist on both sides of the accounting ledger, accounts receivable (money in) and accounts payable (money out). We look forward to providing the support and resources required to capitalize on this large and under-penetrated opportunity across our core markets,” said Joe Germanese, Principal at Great Hill.
Since its inception, Great Hill has developed a deep track record in the payments and software sectors with over 20 investments in the category. In addition to Enumerate, Great Hill Partners’ portfolio includes One Inc, Versapay, Paytronix, Vanco, NMI, BlueSnap, and more. Prior investments include Affinipay, Accelerated Payment Technologies, BillMatrix, ChromeRiver, MineralTree, and PayChoice, among others.
About Enumerate
Enumerate is the leading provider of community association management software and payments solutions that reduce administrative tasks by over 75% for property management companies and self-managed associations. With tens of thousands of communities and millions of homes managed, Enumerate empowers community association management organizations by digitizing and optimizing their accounting processes, operational workflows, AR & AP payments, and resident engagement. As a result, they can scale business and community growth and operations, improve homeowner and board satisfaction, maximize ROI, and transform the financial reconciliation processes. Enumerate exists to make community management easier. Want to see how? Learn more at www.goenumerate.com.
About Great Hill Partners
Founded in 1998, Great Hill Partners is a private equity firm targeting investments of $100 million to $500 million in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. With offices in Boston and London, Great Hill has raised over $12 billion of commitments and invested in more than 95 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies scale. Great Hill has been recognized for its industry leadership, being ranked #3 in the 2022 HEC Paris-Dow Jones Mid-Market Buyout Performance Ranking, which evaluated fund performance of 563 leading private equity firms between 2009-2018.
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REAL ESTATE INVESTMENT, ASSET MANAGEMENT
Businesswire | May 31, 2023
Closinglock, a leading provider of fraud prevention solutions for the real estate industry, today announced the availability of a new identity verification solution that helps title agencies and real estate firms combat the growing amount of fraud.
Seller impersonation fraud is one such area of fraud that is on the rise. This type of fraud primarily involves identity theft to sell vacant land, second homes, and vacation and rental properties all across the country.
Closinglock’s latest solution includes the ability to identify fake driver's licenses, which is the most common method used by fraudsters in seller impersonation fraud.
This new solution is a significant improvement over antiquated methods like knowledge-based authentication (KBA). According to the National Institute of Standards and Technology (NIST), “the ease with which an attacker can discover the answers to many KBA questions … cause KBA to have an unacceptably high risk of successful use by an attacker.”
"As KBA is obsoleted in this new digital market due to targeted spoofing, AI, and web and social media scraping, our team engineered a solution that quickly and easily verifies identity using modern technologies," noted Closinglock’s CEO and Cofounder, Andy White, PhD.
Since Closinglock closely follows the NIST guidelines, it worked to utilize more stringent methods to fight fraud. The new solution from Closinglock is more secure than KBA because it uses a variety of methods to verify the identity of a user which makes it much more difficult for scammers to bypass the verification process.
“We believe that this new solution is a game-changer for the real estate industry,” said White. “It will help to protect our customers from fraud and ensure that their transactions are safe and secure.”
About Closinglock
Closinglock is a leading provider of fraud prevention solutions for the real estate industry. Closinglock’s platform protects payments, payoffs, and all related communications with strict security protocols and offers seamless integrations with closing and title company software. The company currently protects billions of dollars each month with its software, and is trusted by thousands of settlement companies, title agents, law firms, attorneys, lenders, real estate agents, home buyers and sellers and others. Learn more at closinglock.com.
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