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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

(1-13 of 13)
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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
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.
March 12, 2024

Recent Covercy user

Verified User
Manager in Research & Development
Hospital & Health Care Company, 51-200 employees
Score 8 out of 10
Vetted Review
Verified User
Incentivized
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.
February 27, 2024

Covercy is an excellent all in one platform for investment management

Verified User
Account Manager in Finance and Accounting
Real Estate Company, 51-200 employees
Score 10 out of 10
Vetted Review
Verified User
Incentivized
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.
February 27, 2024

Better your investing with Covercy!

Verified User
Executive in Corporate
Real Estate Company, 1-10 employees
Score 9 out of 10
Vetted Review
Verified User
Incentivized
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.
February 27, 2024

Covercy was exactly what we needed!

Verified User
Partner in Professional Services
Commercial Real Estate Company, 1-10 employees
Score 10 out of 10
Vetted Review
Verified User
Incentivized
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.
February 27, 2024

Covercy is a great investor management portal.

Verified User
Manager in Other
Real Estate Company, 1-10 employees
Score 10 out of 10
Vetted Review
Verified User
Incentivized
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.
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
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.
May 30, 2022

Covercy for Private Real Estate Investor Funds

SS
Sadie Swisher
Operations Manager
Profusion Fund Management, LLC (Real Estate, 1-10 employees)
Score 10 out of 10
Vetted Review
Verified User
Incentivized
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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