Keyway, a New York-based proptech startup, has raised USD 15 million in a seed funding round led by Canvas Ventures on 12 November 2021.
Investors: Canvas Ventures led the latest funding round with participation from FJ Labs, Montage Ventures, and Crosscut. In addition, Rebecca Lynn, co-founder and general partner at Canvas Ventures, has joined Keyway’s board.
The Objectives behind the funding: The company plans to deploy the current proceeds to triple its team, primarily in engineering and product.
Founded in 2020 by Matias Recchia and Sebastian Wilner, Keyway is an online real-estate platform that aims to simplify the net-lease process. The startup is dedicated to assembling the intelligence, data and capital to help business owners identify real estate opportunities and rent on a lease, facilitating small and medium property owners to get immediate cash flow backed by a long-term lease. Keyway is aiming to expand its services to the industrial and fast food real estate sectors. Keyway’s team includes alumni from Goldman Sachs, Capital One, Jamestown, Google, and Brookfield.
What the Founder has to say:
“Our first product is a sale-leaseback solution-focused in the medical sector — doctors, veterinarians and dentists that own their real estate,” Keyway’s CEO and co-founder Matias Recchia said. “We offer them a simple and fast sale-leaseback solution where they sell the real estate to us, and we sign a long-term lease so that they can stay in the same location operating as if they are the owners of the real estate.” “We do everything to source opportunities,” Recchia added. “We use data science to map relevant assets in the market. So far, we’ve mapped over 160,000 single-tenant medical buildings across the U.S. We then use data to analyze the opportunities, to automate pricing and underwriting and then we digitize the closing of the transactions.”
What the Investor has to say:
“Keyway is uniquely positioned to modernize the commercial sale-leaseback process as well as reinvent the market for SMB commercial real estate overall. By evolving the way real estate is transacted using data science and machine learning, Keyway will help property owners benefit from greater transparency and improved returns,” Rebecca Lynn, co-founder and general partner at Canvas Ventures, said. “We have no doubt that Matias and the impressive Keyway team have what it takes to build the next-gen digital platform for commercial real estate transactions.”
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