reAlpha, an AI-powered real estate technology and investment company with a goal to empower everyone with the ability to invest in the $1.2 trillion global short-term rental (STR) market, announced the strategic acquisition of Columbus, Ohio-based Rhove, an SEC qualified real estate investment and technology business. The combined company will continue to operate as reAlpha.
This transaction provides reAlpha with a number of strategic benefits that serve to accelerate its growth and advance its goal to make high-quality short-term rental (STR) properties available to the masses. For instance, reAlpha will leverage Rhove’s existing technology and proprietary data to further enhance its recently launched fractional ownership platform. Moreover, given that Rhove is a qualified Reg A+ series issuer, this could potentially accelerate the speed with which reAlpha is able to launch additional fractionalized investment opportunities on its platform.
Through the business combination, reAlpha materially expands its investor base as Rhove’s 5,000-plus dedicated users will join the reAlpha community. The demographic and financial profiles of Rhove’s investor network closely align with reAlpha’s, creating natural opportunities to present these individuals with compelling STR investments. The transaction also brings Calvin Cooper, Rhove’s Co-Founder and CEO, to reAlpha’s Advisory Board, providing the company with a wealth of venture capital, M&A, crypto, compliance and real estate knowledge as well as a vast network of relationships and advisors to spur continued growth.
“As a technology company with a focus on real estate, Rhove is a business that we have been following closely since its inception,” says 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 previously raised $10 million from Drive Capital and angel investors. In 2022, the company received SEC qualification, enabling everyday people to invest on its “Coinbase for real estate” mobile application. In addition, Rhove was one of the winners of the Solana Riptide Global Hackathon and received a grant from the Solana Foundation for Tokr, its novel DeFi protocol to finance tokenized real estate.
