Foxstone closes financing for 10 million
Online real estate investment platform Foxstone has closed its largest funding round to date, raising CHF 10 million from investors.
According to Foxstone, almost all existing shareholders participated in the Series A financing, and new investors also joined, such as Rosablanche Ventures, the family investment vehicle of Thierry Baudon, founder of the private equity fund Mid Europa Partners, and his wife Isabelle Schirmer, who also has many years of experience in the investment sector.
Vaudoise Insurance Group, a longtime Foxstone shareholder, has increased its equity stake for the third year in a row, according to the company, and real estate group Naef Holding has also acquired a stake. Naef already manages a portfolio of residential properties worth more than CHF 50 million for Foxstone.
With the financing round, the company's board of directors also grows to five people: Thierry Baudon, Stefan Schürmann (Vaudoise Insurance Group) and fintech investor Ivan Schouker join the board, with Schouker taking on the role of chairman. Isabelle Schirmer takes on an ooperative role: she becomes Chief Financial Officer of Foxstone.
Foxstone further announces that it will consolidate its activities in Switzerland. The company wants to introduce tokenization of real estate investments, and in the long term it wants to create a purely digital marketplace for real estate. It will then be possible to trade shares in securitized real estate as well as loan titles to real estate developers via smartphone, for example. Currently, the platform unites 15,000 investors, according to the company, and has achieved a transaction volume of over CHF 150 million since its launch in 2018. (ah)
