Glorax Infotech Accelerator Launches Pilot Online Real Estate Transactions Startup Project
In mid-November, based on the third startup round results, the Glorax Infotech Accelerator rolls out a pilot project featuring the Realtyteka Digital Platform. The startup business model will be market environment tested in partnership with a real estate agency, being part of Glorax Group.
The third trial round for projects applying to the Glorax Infotech Accelerator was finished in late October. It comprised about 50 startups offering innovative solutions for real estate, development and infrastructure facilities. Based on a preliminary expert analysis, several projects were carefully selected for a deeper insight. The founders of the Realtyteka Digital Platform decided to launch a pilot project in partnership with a real estate agency being part of Glorax Group.
The real estate agency has a clientele of its own, which can be used to test demand for the product and get feedback from real users, both sellers and buyers. The first product to be offered by the platform is urgent buy-out, i.e. the guaranteed sale of an apartment in as little as 5 days.
Realtyteka is a digital ecosystem for residential real estate transactions. It allows to sell or purchase online and also use a package of relevant options and services. The principal objective of the startup is to help users make turnkey transactions without leaving their homes and within the shortest possible time. The project is aimed at sellers that find it vital to sell their residential properties asap and buyers desiring to buy an apartment at a below-the-market price. So far, it is the only startup in the real estate market enabling a fully remote transaction and based on maximum automation. The project was created by a team of experts in both real estate and IT.
Following the pilot implementation results assessment (expected to take up 3 months), the Accelerator’s experts will decide on investments into and further scaling of the startup.
“Analyzing the first year of the Accelerator’s operation, we realized that the construction and real estate sector is pretty hard for innovation. New projects come to us daily and we meticulously assess them, but most of them finally prove unfit for integration into well-established business processes. By our estimate, Realtyteka is among but a few projects capable of changing the consumer model in the secondary real estate market. According to its founders’ plan, it will become a marketplace for external experts to offer their services and clients will, in their turn, get a choice of options and services relevant in the new normal environment,” says Andrei Birzhin, President of Glorax Development and founder of the Glorax Infotech Accelerator.
The trial for projects to be presented at the Glorax Infotech Accelerator is running until late December. The Accelerator’s total investment fund equals to RUB 1 bln. You can file your participation application at Glorax.io
About the Accelerator:
Glorax Infotech is one of the business lines pursued by the investment–focused Glorax Group with an emphasis on development and sale of its proprietary IT and blockchain projects along with the acceleration of promising real estate projects and bringing them to the global market. Learn more and file your participation application at Glorax.io