This edition of Tech Trends highlights corporate developments within the real estate technology sector.
Lofty Buys Firepoint. Lofty Inc. (formerly Chime Technologies) announced its acquisition of Firepoint, a real estate CRM solution.
Both Lofty and Firepoint offer an end-to-end platform – from CRM to IDX and marketing automations – designed to increase agent productivity, boost conversion rates and grow the business. With the acquisition, Firepoint agents can transition to Lofty at no additional cost.
The financial terms of the acquisition were not disclosed.
“We happily welcome Firepoint customers to our community and look forward to sharing the value of our platform to even more agents across the nation,” said Joe Chen, CEO of Lofty. “From our inception, we have been committed to both innovative technology and serving the needs of real estate professionals. Relying on our platform, today’s hard-working agents are empowered to more easily overcome market challenges and effectively grow their business. Our team is committed to supporting Firepoint agents in their transition to Lofty, steadfast in our belief that when applied, technology is cornerstone to a long, successful career in real estate.”
New CEO at LendingPoint. Atlanta-headquartered LendingPoint, an online loan origination and servicing platform, announced the appointment of Shawn Stone as the company’s new CEO and member of the board of directors.
Stone brings more than a quarter-century of financial services experience to the company. He was spent more than 20 years at Mr. Cooper, where he held numerous executive leadership positions including chief revenue and production officer as well as executive founder and president of Xome, a technology-enabled real estate and mortgage services subsidiary of Mr. Cooper. Prior to joining LendingPoint, he was a senior advisor for Bayview Asset Management and CEO at Renovate America, a nationwide POS and ESG and home improvement fintech lender.
“I am honored to join LendingPoint and to work alongside such a dedicated and talented team at a pivotal time in our growth. I previously had the opportunity to work with LendingPoint as a lending partner and was impressed with their fintech lending platform, customer-centric culture and operational excellence,” said Stone.
Rechat’s New Partnership. Dallas-based Rechat, an artificial intelligence-powered experience management platform and provider of real estate technology solutions, announced its strategic partnership with Peerage Realty Partners, a residential real estate services firm with operations across North America, principally through its affiliation with Sotheby’s International Realty.
According to the companies, Rechat will offer its suite of tools and services into the operations of all Peerage Realty Partners brokerages.
“We are delighted to partner with Rechat to enhance our technological capabilities and provide our advisors with industry-leading tools,” stated Gavin Swartzman, CEO of Peerage Realty Partners. “This collaboration aligns seamlessly with our ongoing commitment to leveraging innovation to better serve our clients and propel growth across our network.”
“Peerage is well known in the space for its strategic prowess,” added Zane Burnett, vice president of innovation and industry strategy at Rechat. “This partnership further adds to their commitment to innovate and keep their advisors at the forefront of effective technology, all with the ultimate goal of better serving their customers and clients through experience management.”
Victor Capital Completes CodeGreen Sale. Victor Capital Partners, a middle market private equity firm, has sold its portfolio company CodeGreen to Pinchin Ltd., a portfolio company of Keystone Capital Management.
Headquartered in New York City, CodeGreen an advisory firm focused on increasing the value of high-performing commercial buildings with a full suite of sustainability and code compliance solutions including energy modeling, decarbonization planning and implementation solutions. Victor Capital partnered with CodeGreen in late 2019, collaborating with the management team to execute a full potential growth plan, expanding the reach, size, and value of the company through acquisitions and new service and market development.
“It was a privilege to partner with Stephen Rizzo and the CodeGreen team on their mission of making commercial buildings safe, healthy, resilient, and sustainable,” said Dave Affinito, partner at Victor Capital. “Since our investment, CodeGreen has made remarkable progress, completing four strategic acquisitions and significantly enhancing its offerings, service and technical capabilities, and value to clients. CodeGreen’s success demonstrates the power of our model of partnering with management teams in focused segments to build branded, mission-driven businesses that are stronger and better for their people, clients, and communities.”
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