Brokerage

Discount brokerage gets $100M more from billionaire founder

'It's obvious we're not going away,' says SRE Matrix's vice president.
Published on Aug 30, 2016
  • SRE, a high-tech discount brokerage, has secured another $100 million in funding from a billionaire who is SRE's sole investor, bringing his funding of SRE to $200 million.
  • SRE, which currently operates in Hawaii and San Diego, plans to launch a national listing search portal in the first quarter of 2017 and intends to provide brokerage services in all 50 states.
  • The firm is looking for brokerages to buy or partner with.
  • SRE pockets 1 percent of a home's sales price for representing a buyer or seller and advises sellers to offer 1 percent to buyer's brokers.

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by CareyBot

“$200 million is no problem for Mr. Sekiguchi,” said billionaire real estate developer Takeshi Sekiguchi, speaking of himself in the third person about his investment in SRE Matrix, which is a discount brokerage that he founded in 2014. SRE stands for "Smart Real Estate." A company spokesperson confirmed that Sekiguchi has poured an additional $100 million into SRE, which purportedly brings its total funding -- all provided by Sekiguchi -- to $200 million ...

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