Ashif Mawji

Apr 23, 2020

Honestdoor , an Edmonton-based proptech startup that offers real estate data for brokers, consumers, and financial institutions, has raised $500,000 in its first round of funding. The financing was raised from Panache Ventures , Bluesky Equities , Conconi Growth Partners , and investors Ashif Mawji, Sanders Lee, Blaine Labonte, and Greg Kwong. Honestdoor will be using the new funds to expand to new cities and scale both its product and its team. “We believe that the future of real estate is complete transparency of data. “With the support we’ve received from a top group of investors, we’re determined to accelerate our mission of empowering consumers,” said Dan Belostotsky, founder and CEO of HonestDoor. “We believe that the future of real estate is complete transparency of data along with tools and education to help consumers make the best decisions on their own.” Honestdoor has been bootstrapped since launching last June. The startup’s offering is now operational in 19 cities in Alberta, and has been quietly piloting a mortgage system with brokers and banks. Belostotsky told BetaKit the startup raised the $500,000 in preparation for a large round in the future, “with an ambitious goal.” The platform uses machine learning algorithms to calculate weekly values and statistics on properties, homes, condos, and empty land. The technology also predicts mortgage renewal dates and lender information, and is used by financial institutions and real estate professionals.