hBits closes deal worth Rs 40 crore

hBits, a tech-enabled real estate company offering fractional ownership to investors, announced on January 18 that it has successfully closed a commercial property deal worth Rs 40 crore.

It has received investments worth Rs 40 crore in the properties pre-leased to two global companies ATPI and Ingenico Group, said a press release.

The company is using machine learning and block-chain technology to create transparency of information and increase the ease and security of transactions for investors, added the release.

Shiv Parekh, Founder, hBits, said, “This is a historic moment for hBits. We thank our investors for their faith in our capabilities. We have a target of Rs 100-crore investment by the end of this fiscal. With this single transaction, we are close to our targets and will be able to deliver even better returns to our investors. We expect to break-even in the second year of our operations.”