Janover Inc ( JNVR ) provided an update on its wholly-owned subsidiary Groundbreaker Tech Inc, its recurring revenue B2B Software-as-a-Service platform for multifamily and commercial real estate syndicators.

Janover, which acquired Groundbreaker in November 2023, reports that this new business line achieved profitability for the second consecutive month in June 2024 since the acquisition, reflecting a sequential monthly increase in its operating margins by more than 100%, increasing from approximately 30% to 64%.

Blake Janover, CEO of Janover, stated, “Our plan for Groundbreaker is to remain profitable and to deliver healthy cashflow throughout the remainder of the year.”

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Groundbreaker is a specialized SaaS platform simplifying capital raising and investment administration for multifamily and commercial real estate syndicators.

By offering an intuitive platform at groundbreaker.co, real estate professionals can quickly create an investor portal and efficiently manage equity capital raising, investor relations, and document sharing, fostering a seamless and professional investment experience for all involved in the transaction.

The platform facilitates secure financial transactions and offers robust customer relationship management tools to enhance transparency and engagement between real estate syndicators and their investors.

Price Action: JNVR stock closed lower by 6.84% at $0.5700 on Tuesday.

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