Planwise Receives Investment From National Association of REALTORS’ Investment Arm
San Francisco, CA – January 21, 2014 - Planwise, a San Francisco based technology company, today announced that Second Century Ventures (SCV), the strategic investment arm of the National Association of REALTORS®, has made a strategic investment in the company. Planwise was a member of SCV’s inaugural REachTM technology accelerator class in 2013 which helps early stage technology companies execute into the real estate vertical. The capital provided by SCV is a testament to Planwise’s success in the program and in real estate and will be leveraged to accelerate their push into the real estate market with technology recently released specifically for the industry.
“Planwise is an essential part of the property transaction, delivering personalized financial insight to consumers while they are in the buying or selling process,” said Constance Freedman, Managing Director, Second Century Ventures. “Planwise helps real estate agents better engage prospects and close transactions by giving buyers the confidence to move forward and understand the short- and long-term ramifications of one of the biggest investments they will ever make.”
To achieve this Planwise works with real estate brokers and portals to embed its technology within property listings to help consumers answer two main questions, “can I afford this?” and “will I make money?” The technology deployed within the listing feeds back into the main Planwise environment where prospective homeowners can model their entire financial situation and add any number of additional Plans.
“The integration with real estate sites marks the first time a personal financial decision tool has been deployed to where the products and services people are actually buying live on the Internet” said Vincent Turner, Chief Executive Officer, Planwise.
Helping consumers make better financial decisions sits at the core of Planwise’s values. Unlike existing finance tools like mortgage calculators that focus on calculating the cost of large transactions like homes and cars on a standalone basis, Planwise considers these major purchases in the larger context of future life decisions, like getting married, having children or returning to school. Planwise was recently named by Kiplinger as one of the top online financial tools available for consumers.
Planwise is available freely and anonymously at http://planwise.com/, Planwise technology is designed to be synchronized with and embedded in third-party web sites. More than 20 real estate and financial partners in the US and Canada have already rolled out Planwise on their sites – you can find out more about becoming a partner at http://partners.planwise.com/.
“We are tremendously happy for Second Century Venture’s investment because it recognizes that consumer facing technology has a critical role to play in helping people be more engaged in understanding major financial decisions like buying a home,” said Turner. “We want to help people take control of their personal economy, and this investment will allow us to expand our technology footprint to one of the largest distribution channels in the country.”
Planwise offers a free online tool to visually map out your future financial plans within the context of your current financial situation so you can more clearly see and understand the path forward. Planwise isn’t about what you’ve done with your money…it’s about what you’re doing next. Just plug in the coordinates of your future plans – buy a car, get a raise, lose a job, and more – to instantly generate an interactive graph to clearly see the impact of every move. It’s fully personalized, yet completely anonymous and free.
About Second Century Ventures
Second Century Ventures (SCV) is a venture capital fund focused on promoting innovation in the real estate industry and helping to enable the entrepreneurial spirit of real estate thrive. SCV has been fully capitalized by the National Association of REALTORS® (NAR). With 1 million members, NAR is the largest trade association in the country. NAR can provide immediate strategic value to Second Century Ventures’ portfolio companies by allowing them access to the vast resources of a 300-person organization with expertise, influence and power that comes only by being ingrained in an industry for over 100 years.
About the National Association of REALTORS®
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.