Tim Draper. Photo credit: Diarmuid Greene/Collision via Sportsfile, licensed under Creative Commons

Propy, a startup that provides blockchain technology to facilitate real estate transactions, has announced that it’s raised funding from Tim Draper, the famous venture capitalist and blockchain enthusiast who’s well-known for early investments in companies such as Tesla, Skype, Coindesk, and Robinhood. The amount of funding provided by Draper is undisclosed, with his investment said to be part of an ongoing, wider fundraise. Already, Propy has raised more than $15 million in funding since its inception. Among its backers include venture capital firm Second Century Ventures, notably the investment arm of the US National Association of Realtors.

Propy was founded in 2016 by Natalia Karayaneva, who before founding the company worked as a real estate professional for 15 years. As the story goes, Karayaneva founded Propy to address a personal frustration of real estate transactions being time-consuming and prone to fraud. To do so, she launched Propy as a real estate transaction platform built on blockchain technology. The platform is adopted by real estate agents and companies, with integrations to dozens of currencies and also electronic signature service DocuSign to facilitate quicker real estate transactions. Karayaneva has served as Propy’s chief executive since its founding.

Propy is based out of Palo Alto, California. 

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