MetaWealth, the fintech startup with a strong presence in Bucharest, Marbella, and Dublin, announced that it raised a record USD 1.2 million, with the remaining USD 2.4 million to be paid in 2 years, and closed its latest Spain asset ahead of schedule, following great interest from retail investors and, most notably, unprecedented demand from Romanian individuals. 

"The largest tokenized real estate deal in Spain" (the second was reported to have closed for only USD 65,000), MetaWealth’s asset attracted some 190 individual investors from all over the world, and some 60% of them were from Romania. 

“I can’t think of any other property deal like this in history, where you have so many people from Romania buying into an elite real estate deal together,” says Michael Topolinski, MetaWealth co-founder.

“Spain is one of the most mature and lucrative real estate markets in the world, and over 100 Romanians, together with people from other countries like The Netherlands, Switzerland, and Sweden, just bought into a luxury property deal in Costa del Sol, without needing to leave the country, open a foreign bank account, or speak Spanish,” he added.

Managing director Richard McLaughlin-Duane commented: “We closed our first asset 10 months ago, and since then, we’ve distributed more than USD 160,000 in rental income to investors from 25 countries. The MetaWealth app, downloaded more than 30,000 times, is getting excellent reviews from users and investors. So far, we have over 10,000 active accounts."

The fintech is actively looking into new investment opportunities ranging from USD 3 to 5 million and plans to list new Spanish real estate assets in the following weeks. Athens, another market with significant international interest, is also a target, with a first asset expected to join the platform in the second part of this year. 

Since its launch last March, MetaWealth has sold over USD 7.4 million in tokenized apartments. 

radu@romania-insider.com

(Photo source: MetaWealth on Facebook)