A London-based fintech startup is bringing a data-driven approach to an investment sector that isn't known for its precision.
How It Started
Vidur Gupta, the founder and CEO of Beekin, spent 15 years working at institutions like MAPE Advisory, Deutsche Bank AG DB and H.I.G. Capital.
Through his capital markets exposure, Gupta said he found the real estate market to be extremely fragmented.
This realization inspired him to formulate a team of well-educated and passionate professionals who are working to reduce the vagueness and risk surrounding real estate value, the CEO told Benzinga.
How It Works
The platform takes in data from sandbox partners like TransUnion TRU and fuses it with information from property owners and managers to provide actionable data APIs and SaaS to investors.
The metrics improve property valuation, pricing decisions and contract writing, Gupta said.
The company has two main products: LeaseMax, which delivers dynamic rent pricing, and RiskPro, which reads behavioral attributes via artificial intelligence to reduce real estate turnover.
The platform signals whether a “tenant is going to renew their lease, or what to charge,” the CEO said.
The products increase returns by “4-15%,” he said.
What's Next
Partnerships, system improvements and regulations.
Beekin is actively seeking partnerships with anyone who touches the investor, Gupta said.
"This could be a software company … or even a broker."
Instead of competing with incumbent software companies and data providers, Beekin strives to partner with these entities in improving data aggregation efforts.
"Real estate is lightly regulated at the consumer level," Gupta said.
"If you bought $1 billion or $1 million worth of bonds and some bond trader gave you the wrong price, he’ll go to jail. But if a real estate broker gives you the wrong information, nothing happens."
As regulation, data availability and interest pick up, Gupta said he expects the real estate market's liquidity to increase.
"It beats me that at a time when people think about establishing life on Mars, real estate [remains unaddressed].”
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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