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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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Recent Reviews

Recent Covercy user

8 out of 10
March 12, 2024
Incentivized
Covercy was used to make international money deposits from Israel to other western countries, including the UK, France, Germany, and the …
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Reviewer Pros & Cons

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BS
Bruce Stern
Managing Partner
Red River Asset Management, LLC (Real Estate, 1-10 employees)
Verified User
Manager in Research & Development
Hospital & Health Care Company, 51-200 employees
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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)

  • $238 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 $238.

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)

Attribute Ratings

Reviews

(1-2 of 2)
Companies can't remove reviews or game the system. Here's why
March 25, 2024

Simple and powerful investor communications.

BS
Bruce Stern
Managing Partner
Red River Asset Management, LLC (Real Estate, 1-10 employees)
Score 9 out of 10
Vetted Review
Verified User
Incentivized
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
  • The user interface is very good, but it is not completely intuitive.
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.
Most Important Features
  • The ability to make quarterly distributions directly to investors via ACH.
  • Ease of use
  • Price per investment
  • Customer service
Return on Investment
  • Automating distribution payments,
  • Streamlining investor communication
  • Increasing investor satisfaction and confidence with our company as a sponsor.
Ease of Use
Covercy has raised the level of professionalism of our organization in the eyes of our investors.
June 08, 2022

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

AG
Alon Gorbonos
Managing Partner
DTI Holdings (Real Estate, 1-10 employees)
Score 10 out of 10
Vetted Review
Verified User
Incentivized
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.
Most Important Features
  • One click distributions
  • Investor portal
  • Banking
Return on Investment
  • Increased investor satisfaction and communication significantly.
  • Reduced time spent by management for admin/back office work.
  • Increased security around money transfers.
  • Allowed self-serve functionality to investors.
Alternatives Considered
I believe that Covercy is the only solution that is currently allowing Real Estate firms to distribute funds to their investors directly through the platform. Also, both other solutions are pretty expensive compared to the reasonable pricing that Covercy has in place (function of a number of properties rather than AuM or other methods).
Other Software Used
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