KiRE
The Future of Real Estate Investments.
Startup Snapshot
Startup name: KiRE
Industry: Proptech & Fintech
Business Model: B2C
Founders: Rodrigo Murillo & José Luis Garay
Operates in: Mexico
HQ Location: Mexico City
Team Size: 4
Founded: 2023
Stage: Pre-seed, seeking to raise their seed round
Investors: Friends and family & angel investors
Accelerators: Founder Institute
Website: www.kiremx.com
What does KiRE do?
Real estate investment has proven to be a secure and profitable option for investors. However, the high capital requirements in such investments pose a significant barrier for many individuals, making it challenging to access and afford such opportunities.
KiRE is an online investment platform that aims to overcome this obstacle by enabling users to purchase fractions of residential properties digitally and securely. Their primary goal is to democratize access to the real estate market and empower more people to enjoy its benefits.
Furthermore, KiRE retains partial property ownership, ensuring investors are relieved of property management and administration concerns. This approach provides peace of mind to investors, allowing them to enjoy the benefits of real estate investment without any hassle.
What’s your backstory?
Rodrigo and José have been the closest of friends for over 30 years. Throughout this time, they have shared many experiences, and their strong bond of trust has been vital to the success of KiRE.
José is an accomplished leader with expertise in commercial strategy. He has held the position of CCO for Mexico and Latin America in the largest transportation and logistics company.
Rodrigo, on the other hand, has extensive experience in financial matters. He has served as the finance director of one of Mexico's leading oil and gas companies and has particular expertise in financing and loans. He has successfully obtained, managed, and structured over USD 300 million loans.
How did you come up with the idea?
Rodrigo and José Luis started their real estate journey at a young age and successfully invested in properties that significantly grew their wealth. However, they faced common challenges in Mexico, such as relying on a mortgage to acquire their current property. They needed capital for down payments and monthly installments to continue their investment journey. Also, they faced the challenge of obtaining a second mortgage, which is often considered nearly impossible in the Mexican financial context. In this context, KiRE emerged as a startup with the idea of democratizing real estate investment by purchasing fractions.
How did you acquire your first customers?
In early 2023, KiRE held its launch event at the BBVA Tower, which over 100 guests attended. During this event, KiRE secured its first co-investors, who were later affectionately referred to as "KiRErs." Following this, the team continued to sell to their friends and family and eventually launched digital marketing campaigns through social media, which helped them acquire even more customers.
When did you realize you had achieved PMF?
Rodrigo and José strongly believe they are getting close to achieving Product Market Fit (PMF) for their platform, KiRE. Although KiRE has received interest from many prospective users, some have hesitated due to their lack of familiarity with the platform. Nevertheless, the team has prioritized transparency as a fundamental objective. This has enabled potential real estate investors to access all legal documentation related to the properties they are investing in, which has, in turn, increased their confidence and convinced many to try KiRE.
What's your motivation?
Rodrigo and José share the mission of making real estate investments more accessible to a larger audience. They believe that investing in property should not be limited to a select few but should be open to everyone who desires to enjoy its financial benefits, including rental income and the potential for value appreciation. They firmly believe that investing in real estate can help individuals improve their quality of life and enable them to achieve their long-term goals and objectives.
What's next for KiRE?
KiRE is currently in the process of fundraising for its upcoming USD 2 million capital round. The funds will be utilized for accelerated growth, team expansion, property acquisition, and to strengthen their brand image. The company believes that strengthening its brand can instill greater trust in its future clients, resulting in increased sales and shorter timeframes for sales transactions.
Tips for other founders:
Carefully analyze the problem you are solving and develop a genuine interest in your product and the problem you are trying to solve.
If you want to succeed, you may consider joining an accelerator program and following their guidance. They can provide valuable advice and help you reach your goals faster.
Instead of spending excessive time planning, take action. Launching the product and facing reality is the real challenge.
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