Dwellowner Announces First U.S. PropTech Security Token Offering
NEW YORK, Sept. 6, 2019 /PRNewswire-PRWeb/ -- Dwellowner Inc., a start-up based in New York, is a tech enabled national real estate brokerage firm that provides home-sellers and buyers with a viable alternative versus a traditional real estate model to save thousands on commission with local real estate professionals. Today, Dwellowner announced their Security Token Offering (STO) with a target issue volume of $7 million from institutional and professional investors. This will be the US's largest and first proptech STO in the residential real estate sector. The Dwellowner tokens ("DWELL") will be tokenized as an equity offering of it's preferred stock.
STO, a new form of fundraising, allow investors to record equity on distributed ledger technology (DLT) under existing securities regulations. As such,the Dwellowner tokens ("DWELL") will be registered on blockchain and offer the same rights and protections investors would expect from ordinary shares.
Eric Eckardt, CEO & Founder, commented: "The dwellowner STO is an opportunity for investors to participate early in our success while benefiting from the shift in our industry, driven by technology, change in consumer behaviour and viable alternatives." Furthermore, our employees and agents will all become owners of the company through a progressive digital equity offering that aligns with our company's commitment to innovation."
To fuel dwellowner's growth and penetrate an $80 billion total addressable market (TAM), the company is launching the DWELL token. Token holders can purchase in Euro, US Dollar, Bitcoin or Ether. For the issuance of the DWELL tokens, the company selected industry leading partners that includes OpenFinance, providing a path to liquidity.
Innovative Cloud Based Model
Dwellowner is a real estate brokerage powered by technology that provides consumers with a viable alternative to sell their home, saving thousands in commission versus a traditional model while empowering their licensed real estate agents. The company is creating a one stop shop for all services home buyers and sellers need while making the process more transparent, efficient and cost effective. Since re-launching in 2019, they are currently licensed in six states, with an established team and infrastructure to penetrate 25% of the US addressable market. This includes their core brokerage business, home-buyer program that connects home-sellers with investors and ancillary services - three immediate revenue channels that share one vision.
Through a limited number of shares issued, the Company will continue to onboard agent and broker teams across the country, all who will be eligible for immediate equity grants. "Unlike a traditional equity plan, everyone on our team will have favorable terms and a path to liquidity. Our people are our most valuable asset and a true competitive differentiator, that we believe can't be duplicated," said Eric Eckardt.
STO is more attractive than a classic IPO
With a lead institutional investor to be announced in dwellowner's STO, tokenized corporate financing via STO opens up numerous opportunities for both Dwellowner and investors. The digital processing of blockchain transactions provides investors with numerous benefits: investments without media disruption, high transparency, programmable compliance, efficiency as well as a path to liquidity through trading.
About Dwellowner Inc.
Dwellowner is a tech-enabled full service licensed real estate brokerage that provides consumers with a viable alternative to sell and buy properties, saving thousands in commission versus a traditional model. The company is creating a one stop shop for all services home buyers and sellers need while making the process more transparent, efficient and cost effective. Dwellowner is empowering consumers, while providing licensed real estate professionals the chance to build and scale a profitable business.
To learn more about Dwellowner STO offering, please visit https://www.dwellowner.com/investors/
Media Inquiries:
Dwellowner Inc.
Investor Relations
T: +888.473.6873
Email: info(at)dwellowner(dot)com
SOURCE Dwellowner Inc.
