Agora acquires Clear shift’s real estate division
Real estate investment management solutions provider Agora has acquired Clearshift’s real estate division in an effort to “reinvent cross-border payments in investment management”.
Agora snaps up Clearshift’s real estate division
To date, the division has leveraged Clearshift’s international payments infrastructure to facilitate mass payouts and capital investments between foreign investors and asset managers, real estate property managers and fund administrators.
As part of the acquisition, the sum of which has not been disclosed, Agora will now serve as the division’s primary client-facing interface with “user-friendly investment management tools”, while Clearshift is to retain the management of all payment execution and compliance functions.
For existing Clearshift clients, the division’s integration into the Agora platform will provide “enhanced capabilities”, while Agora’s clients who are not currently subscribed to Clearshift stand to benefit from “a transparent solution to foreign exchange activity” that facilitates “seamless distributions and contributions in any currency worldwide”.
“After years of refining our fund manager payment solution, it became clear to us that our clients would truly benefit from a full investor management solution with seamless payment integration,” comments Ari Dobner, CEO of Clearshift.
For Agora co-founder and CEO Bar Mor, the acquisition will enhance its platform with “streamlined and cost-effective international payments”, supported by “the substantial customer overlap between Agora and Clearshift”.
The purchase follows the close of Agora’s $34 million Series B funding round last month, which was supported by Qumra Capital, Insight Partners and UK-based investment firm Aleph.
