Public.com, Hustle Fund, 500 Global, VU Ventures, Graphene VenturesPublic.com, Hustle Fund, 500 Global, VU Ventures and Graphene Ventures all contributed to the funding extension.

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While the word “democratization” has become as cliché as “disrupt” in the world of proptech, it is a fitting term to describe the rise in technology products making it easier for people to invest in real estate.

Companies like GroundFloor and Here, for example, offer platforms for regular folks to put money into rehabs and short-term rentals, respectively.

And there’s another, Fintor, aiming to do the same.

The real estate investment app has emerged from development with more than $9 million in total funds raised, closing on a $6.2 million extension of an initial $3 million round last week thanks to Public.com, Hustle Fund, 500 Global, VU Ventures, Graphene VenturesPublic.com, Hustle Fund, 500 Global, VU Ventures and Graphene Ventures, according to an announcement.

Fintor delivers its investing experience in both iOS and Android mobile operating environments, allowing people to get started with as little as $5.

“Real estate, as an asset class, is one of the most critical parts in diversifying a person’s portfolio to create robust positioning,” Fintor CEO and co-founder Farshad Yousefi said in a statement. “We know first-hand just how hard it can be to secure enough funds and navigate the complex process to start investing in real estate, which is why most Millennials and Gen-Zers haven’t considered investing in real estate. It shouldn’t be this difficult.”

Fintor purchases a rental property, securitizes it and sells shares of the resulting LLC, not unlike co-ownership company Pacaso. In this case, the shares are smaller and not designed to be occupied by the buyer.

New properties are rolled out as an Initial Realty Offering, or “IRO.” The first available properties on the Fintor platform are centered in the south, Alabama, Georgia and Tennessee.

In keeping with Fintor’s mission to democratize access to real estate, no user can invest in more than 10 percent of the total property value of each asset, according to the company.

Shares can be sold as they would be on a public market, and holders receive monthly dividends generated from rent and over time, appreciation.

The app also encourages users to read its news feed, share social accounts and industry news. In keeping with the spirit of democratization, it also provides an in-app chat mechanism for users to communicate.

The company claims it has a waitlist of more than 20,000 would-be real estate investors, who will be onboarded regularly as the app rolls out.

“In the first part of 2023, Fintor is looking to rapidly expand across the country into 20+ markets. This expansion will be introducing $50,00,000+ worth of investment opportunity for its user base,” the release said.

Fintor is fully qualified under the U.S. Securities and Exchange Commission’s (SEC’s) Regulation A status, according to the release, allowing it to work with non-accredited investors.

In traditional institutional real estate investing, individuals need be qualified to buy according to income and risk tolerance, or accredited.

Theoretically, there are millions more non-accredited investors. Fintor is banking on it.

Email Craig Rowe

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