Real Estate Fund Shuttered Over Alleged $630M Fraud New Jersey state regulators have shut down Secaucus, N.J.-based National Realty Investment Advisors for allegedly fraudulently selling $630 million of securities to at least 1,800 investors nationwide. So reports NJBiz.

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Proptech Startup BackFlip Raises $8M for Fix-and-Flip Investors

BackFlip, a real estate and fintech startup focusing on entrepreneurs who invest in residential property, has announced $8 million in equity funding. So reports FinLedger.

dollar 3706548 640 smallThe seed round, led by venture capital firms Vertical Venture Partners and LiveOak Venture Partners, will help BackFlip grow its product development team and launch sooner in Texas and Colorado.

Brad Corona, managing Director at VVP, who joins BackFlip as a director, said in a news release: “Real estate entrepreneurs looking to finance ‘fix & flip’ and ‘rehab & rent’ projects overwhelmingly rely on private capital solutions rather than conventional residential lending products. The market for private capital is enormous, yet opaque, hard to navigate, and lacking an end-to-end, digitized consumer experience. The single-family residential investment sector is ripe for Backflip’s unique offering.”

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