Steinn Kapital Review

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Introduction Steinn Kapital

Steinn Kapital is a real estate company founded in 2018 that offers investors the option of crowdfunding property projects. While they actively avoid the word “crowdfunding” on their official website, they do call themselves a participatory technological platform. The company offers single housing real estate through direct crowdfunding that gets recorded on Blockchain. This means this is the first real estate crowdfunding platform founded on the principle of Blockchain in Spain.

This construction firm uses alternative financing that they insist on calling “collective investment”. The financing is allocated to the development and renovation of various infrastructure. The company takes pride in the fact that their business method makes it possible for small investors to invest in the construction sector, too. At the moment, Steinn Kapital has 5 ongoing projects and experience with 855 real estate projects with an accumulated investment of more than 70 million euros. The team has a combined experience of 30 years and works without intermediaries. The currency CEO is co-founder Jose María Soler, while the Chief Financial Officer is Daniel Avilés.

Overall review
4 stars

Advantages

  • All transactions recorded on blockchain
  • Crowdfunding provided for investors of all levels
  • Offered private real estate infrastructure in Spain

Disadvantages

  • No equity investments

The platform

Steinn Kapital heavily relies on crowdfunding and new technology – and makes the best of it – transactions get recorded on Blockchain, staying there forever and without the option of modifying the entered data. This ensures additional transparency.

The company co-invests in all their private projects and developments. Steinn Kapital purchases flats to reform them and add value to that reform, which is where the team has experience. As interior designers they can add spectacular touches to real estate and in which they can also incorporate domotics and the latest tech developments. Each home will have an iPad integrated in the wall, from which you can control the whole house and, in addition, the WiFi will be distributed throughout the home by electrical impulses, which ensures greater coverage. The official website or social media pages do not display the amount of active users on the platform.

What does it offer?

  • Steinn Kapital provides real estate investing opportunities in Spain.

How to get started? 

Steinn Capital gets a huge minus for displaying no useful information whatsoever on registering for the platform, and no information on the availability of different plans. The only information we could find concerning new investors is that the minimal investment is 1,000 EUR.

Regulations

Steinn Kapital accepts investors from Spain, as well as foreign investors, but they must first obtain a NIE (an authorization issued by the Spanish government for foreigners and which must be applied for at the Spanish consulate) in order to invest.

Stein Kapital is not a PFP (Participatory Finance Platform, according to the spanish regulation). The company is rather a direct crowdfunding platform – the team doesn’t intermediate to finance projects of other promoters, but only offers investors to invest in the team’s own projects that it developed as promoters. They are self-promoters and offer people to co-invest with them via participation accounts.

In the medium term, they will seek authorisation from the CNMV both to be able to intermediate in third party operations and to be able to tokenize their projects and offer investors to invest in tokens backed by the real estate assets they offer.

So, since they’re not intermediaries, but self-promoters, they don’t require a licence as a PFP, from the CNMV. And since they don’t offer to invest in tokens, they don’t need authorisation from the CNMV either.

Risks and securities
Thanks to the aforementioned Blockchain technology Steinn Kapital uses, the transactions get recorded forever. This provides more transparency. As with any investment, crowdfunding with Steinn Kapital (and real estate in general) comes with some risk. There are different sorts of risk in real estate, such as:

  • Risk of falling prices: Prices can fall if there is a decrease in demand or a jump in supply. Other factors can also affect prices.
  • Liquidity risk: It may happen that the seller doesn’t find a purchaser in time
  • Political risk: A property is exposed to more risk if the project is executed during unstable times.
  • Incomplete financing: If a financing target is not met in time, the project is affected.

Experts at Steinn Kapital work hard to offer the most secure possible investment option, following real estate predictions and trends. Generally, the Spanish marketplace is an active one, with competitive prices. Thankfully, with more than 30 years of experience under their belt, the members of the team are able to reduce the risk of investing in real estate.

The Business Financing Development Act 5/2015 lets Participatory Financing Platforms to go over the initial term by up to 25%. If it’s still not possible to close the financing, all amounts are given back at zero cost to the investor.

Customer Service

  • The company doesn’t list a lot of contact options. Its last post on Facebook is from 2019 and tells followers they can write to info@steinnkapital.com if they have inquiries.
  • Their Facebook page lists this contact number: +34 644 22 70 20

Conclusion

The information we came across about Steinn Kapital seemed promising until the time came to actually register on its official website and check out their offer a bit closer. There isn’t enough information beforehand to give you an idea what you are getting yourself into before you register, so we avoided the whole process completely. We’d advise you to do the same.

 

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