Dublin-based startup reAlpha has acquired Columbus-based startup Rhove, according to an announcement from representatives with the companies issued earlier today.
reAlpha is described as a technology and investment company that allows individuals to make investments in the vacation rental market. Rhove, which has been profiled previously on ColumbusUnderground, launched an app that allows renters to take fractional ownership in the communities that they invest in through rent payments.
“As a technology company with a focus on real estate, Rhove is a business that we have been following closely since its inception,” stated Giri Devanur, CEO of reAlpha. “We have been impressed by the technology the company has developed and with how it has managed to build a large, loyal investor base and structure its real estate offerings.” We are excited to incorporate the best of Rhove’s technology into the reAlpha platform and to partner with an experienced and well-connected entrepreneur in Calvin, who shares our desire to democratize real estate investing.”
Rhove cofounder and CEO Calvin Cooper will continue to work with reAlpha through a role on their Advisory Board.
“The real estate industry is ripe for disruption and is finally beginning to recognize the power and importance of individual investors when it comes to sourcing capital,” added Cooper. “As champions of everyday investors and pioneers of the fractional ownership model, Rhove and reAlpha are poised to accomplish more together than apart through knowledge sharing and the combination of best-in-class technologies.”
According to Crunchbase, reAlpha has raised over $206 million through four rounds of funding since launch in 2020. Rhove previously raised $10 million in venture capital from Columbus-based Drive Capital and additional angel investors, and received SEC qualification in 2022 to allow for app-based individual invesetments.
For more information, visit www.realpha.com