iFunding, a real estate crowdfunding platform, announced the launch of the first-ever real estate crowdfunding mobile app for investors.
The app, called “iFunding – Real Estate Investment through Crowdfunding,” allows investors to perform every function in the real estate investment lifecycle that they currently can through a computer and web browser on iFunding’s website.
It is available on the Apple Store for iOS devices and on Google Play for Android products.
Features let users browse live investment opportunities, including information about the property, the neighborhood, the project team, pro forma financial projections, legal documents and Q&A with the sponsors.
Users can select specific investments or just browse real estate investment opportunities, at any time and place. They can complete an investment transaction entirely from the mobile device, including document signature and initiation of funds transfer. Or, optionally, switch to their computer to complete a transaction.
Users can also monitor progress on a project in which they are participating, reading about construction activity and financial expenditures, and viewing photos.
“This is the first time that accredited investors will be able to manage their real estate crowdfunding investments via a mobile device. Since some types of iFunding deals tend to fund in a matter of hours or days, the app will be an invaluable way for investors to stay informed about what opportunities are available, and to initiate investment transactions with just a few taps,” said Sohin Shah, co-founder of iFunding and product strategist for the app.
“A large percentage of our web visitors are already on mobile devices, and early feedback shows a lot of excitement about having a custom app for streamlined and full-featured mobile access.“
William Skelley, CEO of iFunding, added: “Our COO, Sohin Shah, and our internal development team deserve a lot of praise for designing the app to meet investor needs and add features that our leading users requested during feedback sessions. This is advanced use of technology for real estate investing in general, not just for crowdfunding. It reflects our vision for democratizing real estate investing through access and transparency.”
IFunding, launched in 2012, has raised more than $20 million from accredited investors. Its investments across the U.S. range from $40,000 single-family houses to multimillion-dollar developments. The company is currently partnering with the Mavrix Group in the planned construction of a $250 million condo tower on Fulton Street in the Financial District, for which it hopes to raise $50 million through crowdfunding.