Blox, a US-based financial artificial intelligence (AI) automation company for real estate, has launched AI financial automation for property operators.
By leveraging machine learning, the all-in-one software platform supports rental property operators in automating important receivables tasks, including statement audit, messaging, disputes, refunds, settlements, payments, and bank treasury.
Founded by Derek Merrill, Blox helps property management companies to centralise their operations and drive efficiency while bolstering the property net operating income (NOI).
Merrill said: “The current market is forcing property management companies to accelerate their future operating models.
“Software is required to enable the transformation—and Blox is excited to help operators get there.”
The company closed pre-seed investment from Fika Ventures, Clocktower Technology Ventures, and Navitas Capital.
Navitas Capital is anchored by strategic real estate limited partners (LPs) such as AvalonBay, Greystar, Equity Residential, and Invitation Homes.
Fika Ventures general partner TX Zhuo said: “We’re excited to partner with Blox, led by a visionary founder applying AI and machine learning to unfold a wider financial technology platform for the built world.”
The financial automation platform’s AI capabilities are powered by property data sets, allowing individualised payment plans, email and text notifications, custom settlement offers, and other receivables automations.
According to the financial AI automation company, all the features are managed from a single dashboard by a centralised resource. It will free up site teams to focus on core property initiatives.
Blox is said to be pre-integrated with all major property management systems, including Yardi, Entrata, RealPage, MRI, and ResMan.
