reAlpha buys Rhove to “democratise real estate investing”
USA: AI-powered real estate technology and investment company, reAlpha, has acquired investment and tech firm, Rhove, with co-founder and CEO, Calvin Cooper, joining reAlpha’s Advisory Board.
The combined company will continue to operate as reAlpha.
The collaboration gives reAlpha access to Rhove’s existing technology and proprietary data which the company plans to use for enhancing its newly launched fractional ownership platform. More than 5,000 of Rhove’s dedicated users will now join the reAlpha community.
Cooper said: “The real estate industry is ripe for disruption and is finally beginning to recognise the power and importance of individual investors when it comes to sourcing capital. As champions of everyday investors and pioneers of the fractional ownership model, Rhove and reAlpha are poised to accomplish more together than apart through knowledge sharing and the combination of best-in-class technologies.
“The STR space in which reAlpha is operating represents a massive untapped opportunity as more retail investors seek access to quality vacation rentals,” he added.
reAlpha CEO Giri Devanur said: “We have been impressed by the technology the company has developed and with how it has managed to build a large, loyal investor base and structure its real estate offerings. We are excited to incorporate the best of Rhove’s technology into the reAlpha platform and to partner with an experienced and well-connected entrepreneur in Calvin, who shares our desire to democratise real estate investing.”
Rhove has previously raised $10 million from Drive Capital and angel investors.