Flow spokesman Davidson Goldin told Forbes that the Pland digital wallet, which will also store fiat currencies such as the US dollar, cannot be used by real estate startups to pay rent for apartments managed. The wallet can be used for external transactions and may include crypto in a rewards program program.
Newman has secured an investment of $350 million (approximately Rs 2,793 crore) for its real estate management software venture. The New York Times first reported it on Monday, but few details of the deal have been revealed. Newman left WeWork in 2019 after investor pressure. He was its co-founder. The company was established in the year 2008.
After leaving WeWork, Newman bought assets in several secondary markets. He also used to invest in a property management software company. Newman then founded FlowCarbon, which aims to issue cryptocurrencies that support carbon credits. However, the downturn in the crypto market has dampened that ambition. It is said that the company will wait for the markets to stabilize before launching the token.
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