Nico brought professional real estate investment tools to consumers by building a tenant-focused app.
Nico had a grand vision to change the way people invest money and earn wealth. By creating a neighborhood real estate investment trust or REIT, they wanted to give residents, citizens, and other investors the chance to invest in the neighborhood around them and create positive social and environmental change while also building an investment portfolio.
They turned to Promptworks to ensure the success of their product and help realize the technological aspect of their dreams.
Here was our challenge:
As an early stage startup creating an innovative investment product, Nico had a number of feature requests for their product and needed help prioritizing these for their MVP. As a team without an engineering department, they also needed technical insight when it came to the scope of the build and technical lift on many requirements.
From a user standpoint, the Nico team wanted to ensure that residents could invest on a one-time or recurring basis and that the system would integrate with a number of programs that were already established so that investments could be tracked easily. It was important that the product earn users’ trust out of the gate since it would be managing their hard-earned dollars.
On top of the team’s feature requirements, there were additional security and regulatory requirements that came along with the financial nature of the project - bank account verifications, privacy needs, and payment integrations that were important to consider as we built out the application.
Here's how we solved it:
Product Managed for Launch Because Nico’s success was directly tied to the launch of their user-facing product, we knew that getting the product to launch would be our top priority. Our team was able to work in concert with the Nico team to prioritize features for launch and help establish a feature set that met the most critical user and regulatory needs.
See the results:
Working within a highly regulated space, the Promptworks team was able to bring this product to life and deliver Nico a tool that helped them bring more equitable investment to neighborhoods.
When Nico’s first Neighborhood REIT launched in Echo Park it was lauded by local and national press and heralded by local government as well as being utilized by local citizens.
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