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Covercy

Covercy

Overview

What is Covercy?

Covercy is a Banking-Embedded Investment Management Platform built for commercial real estate investment firms. It offers automated distribution & capital call payment processing, an Investor Portal, and APY yielding checking accounts.

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Learn from top reviewers

Simple and powerful investor communications.

Rating: 9 out of 10
March 25, 2024
IncentivizedVetted ReviewVerified User
Covercy allows us to have one platform that address all our company's investor relations needs: reporting, issuance of quarterly distributions via ACH, posting of investor tax...
Continue reading
Bruce Stern
C-Level Executive - Other
Managing Partner
Red River Asset Management, LLC
Covercy1 year of experience

Recent Covercy user

Rating: 8 out of 10
March 12, 2024
IncentivizedVetted ReviewVerified User
Covercy was used to make international money deposits from Israel to other western countries, including the UK, France, Germany, and the United States. Covercy was a pretty sl...
Continue reading
Verified user
Manager
Covercy1 year of experience

Covercy is an excellent all in one platform for investment management

Rating: 10 out of 10
February 27, 2024
IncentivizedVetted ReviewVerified User
Covercy has helped our team in facilitating ditributions to property owners and investors. With this, we were able to streamline our distribution process by using Covercy serv...
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Verified user
Account Manager
Covercy1 year of experience

First time real estate project with Covercy

Rating: 10 out of 10
February 27, 2024
IncentivizedVetted ReviewVerified User
Covercy has been instrumental in streamlining our organization's real estate investment management processes. By leveraging their robust platform, we've addressed the complex ...
Continue reading
Verified user
C-Level Executive
Covercy1 year of experience

Better your investing with Covercy!

Rating: 9 out of 10
February 27, 2024
IncentivizedVetted ReviewVerified User
We use Covercy to manage our real estate investors, their reports and distributions. We found that other platforms were very expensive likely due to all of the unnecessary fea...
Continue reading
Verified user
Executive
Covercy1 year of experience

Covercy was exactly what we needed!

Rating: 10 out of 10
February 27, 2024
IncentivizedVetted ReviewVerified User
Covercy has been an excellent investment management platform for us to streamline our investor relations and managing our distributions and promotes. We reviewed multiple plat...
Continue reading
Verified user
Partner

Covercy helped us simplify our process of sending distributions and made everything easier.

Rating: 10 out of 10
February 27, 2024
IncentivizedVetted ReviewVerified User
We are a property management company. We started using Covercy last year. They have helped us every step along the way. Setting up accounts and investor information is very ea...
Continue reading
Verified user
Administrative Assistant
Covercy1 year of experience

Covercy is a great investor management portal.

Rating: 10 out of 10
February 27, 2024
IncentivizedVetted ReviewVerified User
I use Covercy for my investment management of the real estate assets that I manage. We manage multifamily and manufactured housing properties throughout the United States.
Continue reading
Verified user
Manager
Covercy1 year of experience

Everything in one system

Rating: 8 out of 10
February 27, 2024
IncentivizedVetted ReviewVerified User
I use Covercy for payouts to investors for in-total 4 entities and checking previous payouts. directly retrieving statements from the system would be helpful and set up of mul...
Continue reading
Niels Verhoeff
Employee - Other
Senior Banking Officer
Stichting Green Road Capital
Covercy2 years of experience

Covercy is very easy, convenient, and not expensive

Rating: 10 out of 10
February 27, 2024
IncentivizedVetted ReviewVerified User
I am working with real estate investors, and I found that transferring money with Covercy is very easy, convenient, and not expensive. So I am suggesting to all my customers t...
Continue reading
Amiram Gotfryd
General Manager - Sales
Manager
Amiram Gotfryd LTD
Covercy3 years of experience

Covercy is a great tool for GP / LP investor syndication management

Rating: 9 out of 10
February 27, 2024
IncentivizedVetted ReviewVerified User
Continue reading
Verified user
Partner

Easy and powerful investor management & banking solutions for real estate firms

Rating: 10 out of 10
June 8, 2022
IncentivizedVetted ReviewVerified User
I first started using Covercy as I was wasting too much time on back office / admin work for my fund, and wanted to focus more on doing deals and creating value to my investor...
Continue reading
Alon Gorbonos
C-Level Executive - Corporate
Managing Partner
DTI Holdings
Covercy2 years of experience

Covercy for Private Real Estate Investor Funds

Rating: 10 out of 10
May 30, 2022
IncentivizedVetted ReviewVerified User
We use Covercy as an investor portal for our private real estate fund investors. It allows them to see their personal investment in our private fund, as well as all the assets...
Continue reading
Sadie Swisher
Professional - Finance and Accounting
Operations Manager
Profusion Fund Management, LLC
Covercy2 years of experience
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Awards

Products that are considered exceptional by their customers based on a variety of criteria win TrustRadius awards. Learn more about the types of TrustRadius awards to make the best purchase decision. More about TrustRadius Awards

Reviewer Pros & Cons

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Pricing

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Entry-level set up fee?

  • No setup fee
For the latest information on pricing, visithttps://www.covercy.com/pricing

Offerings

  • Free Trial
  • Free/Freemium Version
  • Premium Consulting/Integration Services

Starting price (does not include set up fee)

  • $348 per month
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Product Details

What is Covercy?

Covercy is a Real Estate Syndication Management Software where banking meets investment management, for commercial real estate investment firms. It offers automated distribution and capital call payment processing, an Investor Portal, and APY yielding checking accounts.

Covercy is a banking-embedded investment management platform designed for the CRE (Commercial Real Estate) space. This platform is at the intersection of investment management and financial services. Covercy helps CRE investment firms with HNW (High Net Worth) investors grow their AUM (Assets Under Management). The Covercy SaaS platform manages real estate investment assets from fundraising to distribution of payments. The software tool streamlines investment management operations, automates fund distribution and empowers HNW and family office investors through a high-end investor portal. Covercy combines mission critical financial services with investor administration.

Managing payments can be a hassle for real estate GPs (General Partners). The Covercy Platform automates every step of the distribution process:

  1. Calculates the distribution amount

  2. Executes the payment (moves money securely)

  3. Auto-notifies the investors

  4. Auto-reconciles the distribution

  5. Becomes a system of record

Covercy was founded as a foreign currency exchange business in 2015. The majority of the transactions were for commercial real estate. The vendor states that upon further investigation, there was a gap in the marketplace for investment management with embedded financial services, and so their Investment Management platform with its fully-functional investor portal was born.

Covercy Features

  • Supported: Fundraising Management with online payments
  • Supported: Automated Waterfalls to calculate distributions
  • Supported: Investor portal

Covercy Competitors

Covercy Technical Details

Deployment TypesSoftware as a Service (SaaS), Cloud, or Web-Based
Operating SystemsUnspecified
Mobile ApplicationNo
Supported LanguagesEnglish

Frequently Asked Questions

Covercy is a Banking-Embedded Investment Management Platform built for commercial real estate investment firms. It offers automated distribution & capital call payment processing, an Investor Portal, and APY yielding checking accounts.

Covercy starts at $348.

Juniper Square, RealPage Investment Management, and AppFolio Investment Manager are common alternatives for Covercy.

Reviewers rate Availability highest, with a score of 8.3.

The most common users of Covercy are from Small Businesses (1-50 employees).
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Comparisons

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Reviews and Ratings

(30)

Reviews

(1-13 of 13)
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Simple and powerful investor communications.

Rating: 9 out of 10
Incentivized
March 25, 2024
BS
Bruce Stern
Managing Partner
Red River Asset Management, LLC (Real Estate, 1-10 employees)
Vetted Review
Verified User
Covercy
1 year of experience
Use Cases and Deployment Scope
Covercy allows us to have one platform that address all our company's investor relations needs: reporting, issuance of quarterly distributions via ACH, posting of investor tax documents, and automatic calculation of preferred returns and cash flow waterfalls. The platform is the perfect balance of depth of features and ease of use.
Pros and Cons
  • Customer service
  • Integration of a banking with the platform
  • User-friendly interface
Likelihood to Recommend
Making online distributions via ACH is a somewhat unique feature of this investor portal. We have used other investor platforms, but they required that we had to issue checks for quarterly distributions. That was costly and time consuming.

Also, the pricing is very reasonable. A single property on Covercy costs about a third of the price that we were charged by a competitive platform. For smaller portfolios, Covercy is a very cost-effective option.

Recent Covercy user

Rating: 8 out of 10
Incentivized
March 12, 2024
Verified User
Vetted Review
Verified User
Covercy
1 year of experience
Use Cases and Deployment Scope
Covercy was used to make international money deposits from Israel to other western countries, including the UK, France, Germany, and the United States. Covercy was a pretty slick online application that showed how much any transaction would cost, including up to date currency exchange rates and fees. I felt the user interface was more easily understood than some its competitors which added to its appeal.
Pros and Cons
  • The website is very easy to use and visually appealing
  • Covercy showed how much the same transaction would cost on other applications
  • Covercy's transaction tracker was easy to use
  • Covercy’s customer service could be reached over email
Likelihood to Recommend
Covercy was well suited to move funds from Israel to other western countries' bank accounts. When we needed to move funds quickly, we could link Israeli bank accounts, move the funds, and incur minimal transaction and administrative fees. Ultimately, I would recommend Covercy since it completed the job I needed to do and there was minimal barriers — though it wasn’t entirely seamless.

Covercy is an excellent all in one platform for investment management

Rating: 10 out of 10
Incentivized
February 27, 2024
Verified User
Vetted Review
Verified User
Covercy
1 year of experience
Use Cases and Deployment Scope
Covercy has helped our team in facilitating ditributions to property owners and investors. With this, we were able to streamline our distribution process by using Covercy services at the same maintaining the transparency of account balances. Having easy access to these funds has been very helpful us accountants especially in monitoring transactions and balances.
Pros
  • It was easy to navigate the system
  • Smooth processing of transactions
  • Provide convenient way of accessing our accounts
Likelihood to Recommend
Covercy is well suited for any type of business not only for Real Estate. It's less appropriate for personal use or short term engagements. Overall, Covercy is an excellent all in one platform for investment management and payment system. I would really recommend covercy for business owners or managers that I may encounter.

First time real estate project with Covercy

Rating: 10 out of 10
Incentivized
February 27, 2024
Verified User
Vetted Review
Verified User
Covercy
1 year of experience
Use Cases and Deployment Scope
Covercy has been instrumental in streamlining our organization's real estate investment management processes. By leveraging their robust platform, we've addressed the complex challenges of payment distribution and fundraising efficiency. Our use case encompasses the entirety of our investment operations, from handling investor contributions to executing payouts, and managing our financial records within their secure, intuitive environment. Covercy's solution has significantly reduced the administrative burden on our team, allowing us to focus on growth and investor relations. The seamless integration with banking systems and real-time financial oversight has boosted our operational transparency and investor confidence. Moreover, their customer service has been exceptional, providing timely and insightful support whenever needed. Overall, Covercy has enhanced our operational efficiency and has become an indispensable tool for our real estate financial management.
Pros and Cons
  • Technical support whenever I didn’t understand something
  • Collect payment from partners
  • Lp portal
Likelihood to Recommend
It was my first real estate project. I got a complete work frame of how to do it perfectly from the start

Better your investing with Covercy!

Rating: 9 out of 10
Incentivized
February 27, 2024
Verified User
Vetted Review
Verified User
Covercy
1 year of experience
Use Cases and Deployment Scope
We use Covercy to manage our real estate investors, their reports and distributions. We found that other platforms were very expensive likely due to all of the unnecessary features included. Covercy is a simple to use platform that our team and our investors can easily navigate. Our biggest need was a simple way to distribute cashflow, and Covercy provides that.
Pros and Cons
  • Clean interface
  • Easy banking
  • Investor tracking
Likelihood to Recommend
Covercy is well suited in real estate investment/syndication and likely many other forms of investment where there are multiple investors to keep track of and distribute funds to. It could certainly be adapted to VC type investment, it would just require a slight change to the backend.

Covercy was exactly what we needed!

Rating: 10 out of 10
Incentivized
February 27, 2024
Verified User
Vetted Review
Verified User
Use Cases and Deployment Scope
Covercy has been an excellent investment management platform for us to streamline our investor relations and managing our distributions and promotes. We reviewed multiple platforms but are very glad we found and landed on Covercy. I would definitely recommend it!
Pros and Cons
  • Investor updates
  • Automating promotes
  • Managing distributions for partnerships
Likelihood to Recommend
Covercy is well suited for managing partnerships of over 20 entities, especially with promotes and waterfall distributions. Probably not as necessary or useful or cost-appropriate for simpler equity structures or partnerships with less numbers.

Covercy helped us simplify our process of sending distributions and made everything easier.

Rating: 10 out of 10
Incentivized
February 27, 2024
Verified User
Vetted Review
Verified User
Covercy
1 year of experience
Use Cases and Deployment Scope
We are a property management company. We started using Covercy last year. They have helped us every step along the way. Setting up accounts and investor information is very easy to do. Paying out distributions take so much less time now, with just the press of a button. Any issues they were easy to contact and knew how to solve any problem within minutes. Very professional, trustworthy and worth using Covercy. Thank you for making everything easy. We sure appreciate it.
Pros
  • Addressing any issues quickly
  • Safely transferring distributions
  • Easy set up
  • Adds a professional touch for investors to login and see their investments and history.
Likelihood to Recommend
Covercy works very well and is very easy to use. Customer service is great.

Covercy is a great investor management portal.

Rating: 10 out of 10
Incentivized
February 27, 2024
Verified User
Vetted Review
Verified User
Covercy
1 year of experience
Use Cases and Deployment Scope
I use Covercy for my investment management of the real estate assets that I manage. We manage multifamily and manufactured housing properties throughout the United States.
Pros and Cons
  • Distributions
  • Waterfall Structures
  • Bank Transfers
Likelihood to Recommend
Yes, I would definitely recommend Covercy because it is less expensive than the alternatives (i.e. Juniper Square), and has better functionality. The support team is also particularly helpful and is constantly tweaking the product based on feedback.

Everything in one system

Rating: 8 out of 10
Incentivized
February 27, 2024
NV
Niels Verhoeff
Senior Banking Officer
Stichting Green Road Capital (Real Estate, 1-10 employees)
Vetted Review
Verified User
Covercy
2 years of experience
Use Cases and Deployment Scope
I use Covercy for payouts to investors for in-total 4 entities and checking previous payouts. directly retrieving statements from the system would be helpful and set up of multiple authorization levels to comply with our internal compliance
Pros and Cons
  • Client Services
  • Onboarding
  • Usage system
Likelihood to Recommend
When working with mulitple investors and assets, you have everything in one system thanks to Covercy.

Covercy is very easy, convenient, and not expensive

Rating: 10 out of 10
Incentivized
February 27, 2024
AG
Amiram Gotfryd
Manager
Amiram Gotfryd LTD (Real Estate, 1-10 employees)
Vetted Review
Verified User
Covercy
3 years of experience
View profile
Use Cases and Deployment Scope
I am working with real estate investors, and I found that transferring money with Covercy is very easy, convenient, and not expensive. So I am suggesting to all my customers to do all the money transferring with Covercy.
Pros
  • Transferring money
  • Hanging deals
  • Costumer services
Likelihood to Recommend
Covercy has very good customer service.

Easy and powerful investor management & banking solutions for real estate firms

Rating: 10 out of 10
Incentivized
June 08, 2022
AG
Alon Gorbonos
Managing Partner
DTI Holdings (Real Estate, 1-10 employees)
Vetted Review
Verified User
Covercy
2 years of experience
Use Cases and Deployment Scope
I first started using Covercy as I was wasting too much time on back office / admin work for my fund, and wanted to focus more on doing deals and creating value to my investors.

Currently Covercy is utilized in my company for the following:
+ Investor management - Covercy provides an easy and friendly cloud base platform in which all updates and information is available to the investors online
+ Distributions of funds is done through the Covercy platform, instead of sending each investor a wire, we send the entire amount to our escrow with Covercy and the system automatically distribute it to each investor to the account and currency of their choice
+ Bank accounts (Covercy allows us to setup and manage banking for our properties within it's platform)
Pros and Cons
  • One click distributions for our investors.
  • Interactive investor portal which is easy to use and mobile friendly for our investors.
  • Online repository of investment documents that is accessible to all investors at any time.
Likelihood to Recommend
I believe that any small to medium size real investment firm could benefit from using Covercy as it reduces headcount and helps to streamline lots of back-office tasks. Probably for big firms those functions are fully staffed so they can do that in-house.

Covercy for Private Real Estate Investor Funds

Rating: 10 out of 10
Incentivized
May 30, 2022
SS
Sadie Swisher
Operations Manager
Profusion Fund Management, LLC (Real Estate, 1-10 employees)
Vetted Review
Verified User
Covercy
2 years of experience
Use Cases and Deployment Scope
We use Covercy as an investor portal for our private real estate fund investors. It allows them to see their personal investment in our private fund, as well as all the assets held within the fund. We also utilize it for outside investors who invest in individual assets alongside the fund, but who are not invested in the fund itself. It allows us to distribute quarterly reports within minutes to all investors, send distributions directly to client bank accounts (we used to mail checks), and post information about current and new investments along with updated photos on development projects.
Pros and Cons
  • Distributions to clients are easy and straightforward
  • Customer service is quick to respond
  • Updating and adding new assets is very easy
Likelihood to Recommend
Distributions to investors have become much easier for us with the direct deposit feature. Capital calls will be much easier once they roll out the capital call feature. Quarterly report distributions are much easier for us. We update our NAV at the end of each year but unfortunately cannot show investors their return growth from the NAV update. Instead, it shows the NAV as invested capital, which affects return metrics.
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