Fraction, a Hong Kong and Thailand-based fintech firm that symbolizes real estate, raised $ 3 million in a pre-series round led by East Ventures with the participation of Emtek Group, Thakral Limited, and V Ventures.

Founded in 2018 by Eka Nirapathpongporn and Shaun Sales, Fraction combines offline properties with NFTs that can be shared and sold to potential clients. This allows buyers to own small portions of the property. The startup also has a fractional ownership exchange platform.

The company said it will use the new funds to implement its plans to launch its first real estate offerings and to accelerate growth across multiple asset classes, services, and jurisdictions.

“We can now enable true financial inclusion by exposing retail investors to attractive asset classes that were previously not accessible,” said Nirapathpongporn, who is also CEO of Fractional.

The fundraiser comes months after the country’s Securities and Exchange Commission granted an initial threshold license for coin offerings to the company’s Thai unit. Real estate tokenization is estimated to cost $ 1.4 trillion in assets worldwide over the next five years.

Before this round, Fraction raised undisclosed initial funding from traditional financial and tech investors including Singha Ventures, Tanarra Capital, and Skystar Capital.

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