New wealthtech start-up Waltz launches US real estate investment platform
New wealthtech start-up Waltz has launched in the US to enable foreign investors to invest in and purchase US residential real estate “in 30 days or less”.
Waltz launches in the US
The Miami-based firm promises to deliver “easy access to a blue-chip market” through its online platform.
It also claims to eliminate “significant pain points” such as expensive currency conversion fees and unpredictable exchange rate fluctuations.
The investment process through Waltz begins when investors identify their “ideal property” in the US through a real estate agent, mortgage broker or turnkey provider.
Once selected, the service establishes a Limited Liability Company (LLC) and an Employee Identification Number (EIN) for the investor, while also providing them with access to an assigned agent and pre-approval letter.
This is further supported by the opening of a US digital bank account, which investors can leverage to receive rental income, pay property taxes and reduce withholding.
Waltz also provides foreign investors with a range of mortgage and refinancing options for up to 70% of the property’s value.
This service, the start-up says, is calculated through the property’s return on investment instead of the investor’s personal income.
When closing comes around, Waltz claims to be able to handle the entire process from appraisal, inspection, title and insurance with a remote solution paired with a “detailed tracker to monitor progress”.
Once completed, investors can monitor the property’s progress with an assigned property manager and complementary insurance and tax advisory services.
The service is currently available in nine states across the US, namely Alabama, Florida, Georgia, Maryland, Mississippi, North Carolina, Ohio, South Carolina and Texas, with plans to launch in Arizona “soon”.
Ready for cha-cha-change
Speaking on the launch, CEO Yuval Golan, who founded Waltz in 2021, recognises that while modern investing practices usually entail “just a few clicks”, the experience is somewhat more challenging for foreign investors.
“Based on my own experiences attempting to invest around the world and in the US, I wanted to make the process for non-citizens as straightforward and simple as possible to access this blue-chip housing investment market,” he explains.
“Now, investors can just Waltz in, Waltz out, and they immediately start their journey of turning the wealth they built into the future they dream of, while we manage the compliance, legal, banking and regulatory side of the process.”
The start-up’s launch has been powered in part by an $11.5 million seed funding round led by TLV Partners and a further $12.5 million Series A round, which closed this month and was led by Aleph.
Angel investors also supporting Waltz include Ofir Ehrlich, David Krell, Talmon Marco and Eyal Lifshitz.
