Arcanite, an off-plan sales management software solution, set out to transform the way off-plan developments are sold using virtual reality and is now looking to help people break into the real estate market.

Proptech helps real estate developers and real estate agents simplify the management of their sales channels and projects, quickly grow their networks and sell more properties sooner, recently reaching $1.1 billion in properties sold on the platform.

Founder and CEO William D. Lin said it was a challenge to succeed using the same methodology as traditional off-plan property sales

“The right tools are necessary not only to meet the specific needs of project sales, but also to meet the industry’s demand for accessibility, convenience, and fast pace,” he said.

“With a strong focus on mobility and finance, Arcanite has struck the right balance to meet the needs of agile property professionals and Australian buyers looking to secure their dream home faster.”

Arcanite developed DragonVR, which allows developers, builders, and agents to showcase upcoming developments before construction. Proptech is now diversify into fintech with Equimate, who helps eligible first-time home buyers, who have little or no deposit, with the financing needed to purchase a home.

Equimate CEO Phil Foweraker said they hoped to give thousands of Australians the opportunity to invest in property sooner.

“We have recognized how difficult it is for so many Australians to enter the property market, whether it is saving for a deposit or finding additional funds to cover bank charges, including l lenders‘ mortgage insurance (LMI),” he said.

“Equimate first helps access to property and saves the costs associated with IMT premiums from standard credit institutions. »

The companies are based at Stone & Chalk’s new Sydney Scaleup Hub and CEO Michael Bromley said they are using DragonVR to showcase the hub’s workspaces.

“This technology helps break down the barriers between potential tenants and property owners,” he said.

“Arcanite and the upcoming Equimate recognize the potential to move Australia towards economic sustainability and diversification of entry requirements to reach a wider market.”