addy Technology Corporation (“addy”) is a proptech company on a mission to enable every human to become a homeowner. The Company enables Canadians to invest in real estate for as little as $1. addy was founded in 2018 by a team of real estate and technology entrepreneurs and is headquartered in Vancouver, BC. To learn more, visit: addyinvest.com and join the @addyinvest community on Facebook, Twitter, YouTube, LinkedIn, and Instagram. Tune in to The addy Podcast on iTunes and Spotify.
In Business Since 2018
What motivated you to start your business, what challenges did you overcome?
addy is a new prop-tech start-up that provides an online investment platform to enable Canadians to invest in real estate for as little as $1. In the words of our CEO and Co-Founder, Michael Stephenson: “I was fortunate to get into the real estate market in 2003 and my family has benefited tremendously from those choices. Real estate has consistently been one of the most lucrative forms of investment, but today the barriers to entry are prohibitively high for many — especially for young people. My vision and reason for founding addy is to eradicate those barriers and give everyone the opportunity to invest in real estate. We want to help the next generation create wealth for their future in the same way I have been able to. I never want to have a conversation again about why a young person is unable to get into the market. We believe everyone should have the opportunity to become a homeowner through access to real estate investing at any amount, regardless of income, age, or other conflicts.” The biggest challenge with disrupting an industry as large and antiquated as real estate investing is the lack of technological innovation and the high costs associated with doing deals. We have built software that drives these costs way down so that we can facilitate thousands of investors in each deal vs. a handful of very wealthy individuals. How does it work? 1) addy identifies a real estate investment opportunity. Purchase decisions are made collectively by the addy acquisitions team, investment committee and our Board of Directors which has a track record of investing in and managing real estate. 2) addy divides the investment into equal parts. The real estate investment opportunity is broken out into increments valued at $1. For example, a $500K opportunity would be divided up into 500K units. 3) addy sells units for $1. Units in the investment are listed for sale on our platform. Investors can decide how much they want to invest ranging from $1 to $1,500.
Why do you deserve to win the Best Innovation award?
Through technology, we offer a chance for everyone to get into real estate for an amount that fits their budget without any life-altering sacrifices. Making real estate investing available to everyone is what excites and unites our team of real estate experts, entrepreneurs, and technologists. We believe everyone should have the opportunity to become a homeowner through access to real estate investing at any amount, regardless of income, age, or other conflicts.