NEW YORK, Nov. 12, 2021 /PRNewswire/ — Keyway, a commercial real estate technology platform for small and medium-sized business owners, today announced a $15 million seed financing round led by Canvas Ventures with participation from Montage Ventures, FJ Labs, and Crosscut. Canvas Ventures General Partner, Rebecca Lynn, also joined Keyway’s board.
This capital injection allows Keyway to triple its team, primarily in engineering and product, which already includes alumni from Goldman Sachs, Capital One, Jamestown, Google, and Brookfield, among others.
Keyway’s initial product is a sale-leaseback solution for business owners looking for liquidity, an area where transaction pains are most acute. Additional products will follow in the coming months, including an expansion solution for operators looking to lease a new location, and a rent-to-own solution. The company is primarily focused on the medical sector, covering medical office buildings along with dental and veterinarian businesses.
“Over the last decade, the majority of PropTech innovation has centered on residential real estate. We’re excited to be at the forefront of changing the $16 trillion U.S. commercial real estate industry,” said CEO and co-founder Matias Recchia. “Since real estate plays such a critical role in the success and viability of small and medium businesses, we founded Keyway to provide access to resources and opportunities that larger companies already enjoy, thereby leveling the playing field.”
“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,” said Rebecca Lynn, co-founder and general partner at Canvas Ventures and Keyway board member. “We have no doubt that Matias, Sebastian, and the impressive Keyway team have what it takes to build the next-gen digital platform for commercial real estate transactions.”
Keyway’s sale-leaseback allows business owners to sell their property for the full value while remaining in the same location with a long term lease. The company provides a data-backed offer, standard contract and an online deal process to ensure a fair and fast closing.
“We want to simplify the experience of transacting real estate for business owners and their brokers. Today, expensive and opaque transactions averaging 13 months to close mean businesses pass up investment and expansion opportunities because they cannot access capital tied up in their physical asset,” said COO and co-founder Sebastian Wilner. “Our solution cuts closing time by 90% and fees by 50% for business owners.”
“Our investment in Keyway stems not only from how they will transform commercial real estate transactions but how that change will positively impact small and medium businesses’ ability to engage in …….