Sean Hsieh. (Flowroute Photo)
Less than a year after selling his telecommunications startup, Flowroute founder Sean Hsieh has embarked on a new venture that aims to open up the world of commercial real estate investing.
Seattle startup Concreit is a soon-to-be-launched startup that will give investors the ability to invest in private buildings for as little as one dollar.
“When I talk to my friends about owning a building, they just stop and go, ‘I don’t even know what to think about that, because I can’t connect with that thought,’” Hsieh said. “We’re trying to bring deals that only millionaires have access to and give them to an everyday investor for very small dollar minimum.”
Concreit has raised nearly $1 million in funding from Unlock Venture Partners, a new Seattle-based firm co-led by longtime angel investor Andy Liu. Other Unlock portfolio companies include Crowd Cow, Make.TV and Possible Finance.
Hsieh started Concreit with Flowroute co-founder Jordan Levy and Rui Maximo, who was formerly CTO at blockchain startups LifeID and StormX. The company hopes to launch later this year.
The idea for Concreit was inspired by Hsieh’s own finances. “After selling Flowroute, I started to figure out how to diversify my …read more