Developer Platform Launched by Ownright for Integration of Legal Closing Mechanisms in Proptech Applications
Toronto-based legaltech company, Ownright, has launched its innovative Developer Platform, aiming to modernise real estate transactions across Canada. This strategic move capitalises on the growth of the Canadian proptech market, expected to expand at a compound annual growth rate of 17.6% through 2030 [6].
The platform, designed to embed legal closing services into the tools and workflows of Canada's proptech sector, promises to streamline homeownership and improve the overall home buying experience [5]. By providing a suite of APIs and tools for real estate technology providers, Ownright enables proptech companies to seamlessly integrate trusted legal services into their products [3].
One of the key benefits of Ownright's Developer Platform is its ability to streamline real estate transactions. By embedding legal closing services directly into digital platforms, Ownright reduces friction and complexity in property deals, offering a smoother, faster closing experience [1][2].
Partnerships with major industry players, such as Royal LePage and technology partners like Hyyve, enhance the platform's reach and effectiveness in delivering cost-effective and efficient real estate closings [2]. Ownright's involvement in innovation programs, such as the Law Society's Access to Innovation, and joining the Legal Innovation Zone, underscores its role in advancing legal and technological integration within the Canadian real estate sector [2].
A recent $1.25 million CAD pre-seed fundraise supports Ownright in expanding its platform capabilities, signalling investor confidence and a growing footprint in proptech solutions in Canada [2][4]. This funding will enable Ownright to further develop its platform, enhancing the offerings of early adopters like Buy.ca, a tech-focused real estate brokerage that plans to integrate Ownright directly into its search platform and client portal [1].
Senthu Velnayagam, CEO of Buy.ca, praised Ownright's transparent and user-friendly closing experience, stating that the launch aims to help partners grow by giving them tools to build smoother, more transparent closing experiences [1]. The launch of the Developer Platform is focused on helping partners in the proptech sector improve their products, ultimately creating more efficient, transparent, and user-friendly experiences for agents, buyers, and sellers [4].
The Developer Platform also provides webhook notifications at key milestones and allows for real-time tracking of transaction statuses. This feature will further enhance the efficiency of real estate transactions, reducing delays and improving the overall home buying experience [5].
In summary, Ownright's Developer Platform is poised to revolutionise the Canadian proptech market and real estate transactions. By simplifying complex processes and promoting the digital transformation of property transactions, Ownright has the potential to improve affordability and accessibility in the housing market [3]. As the platform continues to evolve, it is expected to become an integral part of the Canadian real estate landscape, positioning itself as a key legal technology enabler in the sector.
The Developer Platform launched by Toronto-based legaltech company, Ownright, is opening doors for proptech companies to integrate trusted legal services into their products, thus enhancing their offerings and improving the home buying experience in real-estate. With its streamlined features, Ownright's technology integrates seamlessly with digital platforms to provide cost-effective, efficient real-estate closings that utilize innovative finance models, fostering growth in the Canadian proptech market.
