Bahrain FinTech Bay and the FinTech Consortium, have announced a strategic agreement with OffrBox.
In case the name doesn’t ring a bell, OffrBox is a New York City-based FinTech startup that developed an end-to-end real estate transaction platform, where users can buy and sell residential properties online. The company was named one of NYC’s Top 50 Startups to Watch in 2017.
Under the new partnership, OffrBox is introducing its platform in Bahrain, with an aim to play an important role in the growth of the Kingdom’s FinTech ecosystem. This essentially means that customers in Bahrain can now search, list, and review real estate properties on the OffrBox platform.
Once a property is identified, users can review the relevant property documentations online and then negotiate the purchase price. The contract process can be completed using the online platform. Needless to say, this is far more convenient, time-efficient, and effective compared to the traditional method of buying or selling a property.
“We have taken much note and interest in Bahrain and its regional leadership position in FinTech. Specifically, we believe that Bahrain FinTech Bay offers us a unique opportunity to deploy the OffrBox platform, enhance its capability through local innovation, and work with industry to develop leading technology for real estate investment,” said Eric Andrew, President, and Founder of OffrBox.
On a related note, OffrBox is currently focusing on expanding its platform to introduce additional features such as real estate financing and blockchain for title registration. These added modules are intended to provide the company’s customers with a seamless real estate transaction process.
