EXtrance is a leading prop tech company that has revolutionized the investment management system. The company was founded with the objective of unleashing the potential of private CRE investments, and its innovative platform has made it the premier choice for fund managers. With a focus on ease of use and ultra-security, EXtrance utilizes cutting-edge Blockchain and Al technology to deliver superior data access, analytics, and automation. By providing a single access portal, EXtrance offers fund managers exponential efficiencies that amplify best practices and lower administration costs. Ultimately, this results in lower investor expenses, better profits, and returns. The platform’s superior features and benefits have made it the go-to choice for fund managers looking to streamline their operations and maximize their returns.
About William Lively: CEO, Extrance
William Lively is the founder and CEO of EXtrance. Prior to establishing EXtrance in 2020, Lively worked at DCI Capital Advisors, one of the first blockchain investment firms in the United States. He then co-founded SyndEX Labs, a financial services technology firm that focused on global commercial real estate, where he served as CEO and Chairman for three years. Under his leadership, the company grew from a “garage startup” to a $25 million company. At SyndEX Labs, Lively oversaw the development of the first blockchain-based commercial real estate investor ecosystem, provided divestment services for large family offices, and built a strategic partnership with IBM and Americas Group.
After achieving incredible success at SyndEX, Lively resigned from day-to-day management of the company and shifted his focus to EXtrance. He partnered with industry leaders in big data, machine learning and AI, commercial real estate, fund administration, and entrepreneurial management specialists to expand EXtrance’s operations. Lively’s experience in the financial technology and real estate industries, coupled with his expertise in blockchain-based investment solutions, has helped him drive EXtrance’s success as a premier investment management system in the commercial real estate industry.
The Origin of EXtrance
EXtrance was established by William after he recognized the inefficiencies and inadequacies in commercial real estate (CRE) investment management. During his time at DCI Capital, he identified the problems associated with limited partnerships in comparison to REITs and other types of alternative investments, such as a lack of transparency and limited liquidity options. He was surprised to see that advanced technologies like AI, machine learning, data modeling, and blockchain were not being applied to the real estate industry yet. William was inspired to address these issues by establishing EXtrance, a company that utilizes innovative technologies to improve investment management practices and provide better returns to investors.
The company’s focus is on addressing the outdated and archaic practices that lend themselves to human error, unnecessary costs, and long latency times in CRE investment management. EXtrance automates processes like sending out notices, dividend payments, and automatically calculated waterfall distributions to improve efficiencies. Bringing offline processes online/on-platform creates more efficiencies, such as offering secure payment support for online capital call fulfilments and dividends paid out to investors via the EXtrance platform.
Stumbling upon Challenges in the Initial Phase
During its early years, the company faced significant challenges in product development. In order to build the EXtrance platform, the company had to work with three different software development teams, each specialized in different areas of technology. While the company had initially laid the foundation of the platform with one team based out of New York, it soon realized that it needed to engage with more specialized teams to build the innovative solution it envisioned.
Working with new teams presented unexpected challenges and set back the company’s timeline. However, the company remained motivated by its confidence in its vision for EXtrance, believing that it could offer an industry-leading solution that went beyond what was currently on the market. To achieve this vision, the company engaged with two additional software development teams simultaneously, one specializing in data modeling and UI/UX design and the other in AI and machine learning.
Despite the challenges it faced, the company’s unwavering focus on achieving its overall vision for a technologically innovative product allowed it to overcome these obstacles and position itself competitively in the market upon launch
Expanding the Horizon of the Company
During the ideation and inception phase of EXtrance, the company’s primary focus was providing investors and fund managers with visibility and insight through KPI calculations and visualizations. However, the company’s vision for EXtrance expanded over time as they recognized the potential for the platform as a tool for fund managers to bring their entire operation onto a single platform, including distributions and capital calls, online banking, and automated payments.
To achieve this vision, EXtrance took a specialized and technologically advanced approach to product development, consulting with fund managers and working closely with two specialized software development teams. Now that product development is complete, the company’s priorities have shifted towards marketing and sales to communicate the advantages of the more robust platform to the market.
About the Dream Team at EXtrance
EXtrance has a lean team and a diverse Board of Advisors, and this unique team structure allows the company to leverage the expertise of well-established leaders while maintaining a small core team. The company values smark work, which involves finding a balance between efficiency and being lean.
Due to the small size of the team, EXtrance’s core team works closely with each other and maintains a high level of communication. The team shares the same vision for the company and is equally committed to its success. Additionally, they have high goals and expectations for the company and are confident in the product and the team. Overall, the company has a collaborative and dedicated work culture.
The Smart Way of Doing Business
EXtrance’s deep understanding of the complexities of investment management, customizations, and role management makes it stand out from its competitors. The company works closely with clients to create customized solutions that cater to their specific needs and provide relevant insights and tools. The company employs software development resources to make changes and additions necessary for its clients. This level of service is higher than that of its competitors, eliminating the need for software competency and reducing the learning curve. The company’s user-friendly approach, employing some of the best frontend development resources, is another factor that makes it stand out.
Paving Way for the Future
The company sees itself as the premier investment management solution in the market, with its unique benefits and competitive advantages becoming industry standard. The company aims to expand its platform and investor ecosystem to serve more alternative investment strategies such as venture capital, private equity, and hedge funds, along with their investors who are facing challenges like illiquidity, costly management, and a lack of transparency and security.
By providing a customizable and client-centric solution, the company aims to stay nimble and cater to the evolving needs of the market and its clients. Ultimately, the company aims to become the go-to solution for investment management, setting higher standards in the industry and amplifying best practices in fund management.
