Vancouver-based real estate investing platform Parvis announced this week a partnership with embedded financial technology solutions provider VoPay.
The collaboration aims to offer real estate investors a simpler, faster, and more secure payment method than cheques or wire transfers.
“This partnership aligns with our organization’s mission of making financial products and services more accessible to North Americans,” stated Hamed Arbabi, founder and chief executive of VoPay, which is also headquartered in Vancouver. “Parvis is at the forefront of engaging the next generation in real estate investing and we are proud to work together to streamline transactions through its online platform.”
Parvis Invest recently launched a blockchain-powered platform that offers comprehensive Exempt Market Dealer services to developers across Canada—a service that will be further optimized with EFT payment solutions, according to a statement from the BC fintech.
“Integrating EFTs can be complex, and working with a team that not only has cutting-edge technology but also offers excellent customer service is critical in our current growth stage,” added David Michaud, CEO of Parvis Invest. “As we continue to scale our business, we will experiment with more embedded payments solutions to sustain consistent growth and output over the long term.”
With VoPay’s EFT solutions, it will offer Parvis’ customers a new payment gateway that does not require a bank branch visit to do a wire transfer.
These efficiencies will not only enhance the customer experience but also enable control and visibility, improve cash flow, strengthen security and drive revenue, according to Parvis. EFT transfers are one of three payment methods alongside Wire and Registered Funds that Parvis offers investors to facilitate payments across a variety of mediums.
Last year, Parvis raised $2.6 million in a seed round led by Gravitas Securities.
“Access to institutional real estate investment has long been an opportunity reserved for an elite few, and the industry is ripe for technological disruption,” Michaud said at the time.
Michaud cofounded Parvis Invest alongside Drew Green, Conan Graham, and Jas Bagry in 2019.
Like Addy Invest, Parvis claims to out-compete REITs with a superior and more custom selection of properties, as well as lower investing fees. However, Parvis targets accredited investors rather than the layman.
VoPay was founded in Vancouver in 2015.