Boca Raton, FL, April 30, 2024 (GLOBE NEWSWIRE) -- Janover Inc. (Nasdaq: JNVR) (“Janover” or the “Company”), an AI-enabled platform for commercial real estate transactions, today announced that it has officially launched Janover Insurance Group Inc. (“Janover Insurance”), its new insurtech subsidiary for commercial property insurance and more. The Company also announces it has been granted insurance licenses in Texas and Florida, with multiple applications in progress in several other states.
“Our ability to navigate large complex transactions in a marketplace model, particularly in multifamily and commercial property finance, fits perfectly in the insurance brokerage model,” said Blake Janover, Chairman, and CEO of Janover Inc. “By offering both multifamily and commercial property insurance services, we are able to provide a suite of modern financial services for our clients, adding more value, and reducing frictions and costs in the process. We believe our generative AI applications coupled with our best-in-class customer service and experience will make for very happy customers.”
“From the perspective of our shareholders, we are not only delighting our clients, but we are enhancing our revenue mix through the introduction of sticky recurring revenue and creating another touch point with our valued customers. Commercial insurance represents a high gross margin, recurring revenue business, aligned with Janover's growth strategy. It is also important to note that as an agent, we do not bear underwriting risk, allowing us to ensure we are providing clients with the best possible product for their needs while maintaining a balance sheet light technology platform. Looking ahead, Janover Insurance anticipates obtaining licenses in additional states, with the ultimate goal of offering national coverage and additional product offerings.”
“To support our growth, we have hired two senior industry executives with proven track records and extensive expertise in the insurance sector to advise Janover Insurance. We have also hired a full-time manager from one of the top firms in the world to run the business. We have also partnered with a leading wholesale brokerage to expand our insurance offerings and provide clients with a diverse range of solutions and are negotiating with two others. In order to maximize outreach and engagement, we are also developing a robust content strategy across all of our platforms, leveraging our extensive online presence to ensure that insurance remains at the forefront of client conversations. With over 100 million impressions annually on Google and a strong, replicable content strategy, we are committed to embedding insurance into our digital ecosystem,” concluded Mr. Janover.
About Janover Inc.
Janover is an AI-enabled platform for commercial real estate transactions. The Company seeks to revolutionize the commercial real estate lending market by making it hyper-efficient, transparent, and accessible to all rather than the few. Through the Company’s online platform, it provides technology that connects commercial mortgage borrowers looking for capital to refinance, build, or purchase commercial property, including, but not limited to, apartment buildings, to commercial property lenders. Borrowers include, but are not limited to, owners, operators, and developers of commercial real estate including multifamily properties and most recently, a growing segment of small business owners, which Janover believes represents a significant growth opportunity. Lenders include small banks, credit unions, REITs, Fannie Mae® and Freddie Mac® multifamily lenders, FHA® multifamily lenders, debt funds, CMBS lenders, SBA lenders, and more. Additional information about the Company is available at: https://janover.co/.
To view the latest investor presentation, please visit https://ir.janover.co/.
Forward-Looking Statements
This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “believe,” “project,” “estimate,” “expect,” strategy,” “future,” “likely,” “may,”, “should,” “will” and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: (i) the effect of and uncertainties related the ongoing volatility in interest rates; (ii) our ability to achieve and maintain profitability in the future; (iii) the impact on our business of the regulatory environment and complexities with compliance related to such environment; (iv) our ability to respond to general economic conditions; (v) our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; (vi) our ability to access sources of capital, including debt financing and other sources of capital to finance operations and growth and other risks and uncertainties more fully in the section captioned "Risk Factors" in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and other reports we file with the SEC. As a result of these matters, changes in facts, assumptions not being realized or other circumstances, the Company's actual results may differ materially from the expected results discussed in the forward-looking statements contained in this press release. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Contact:
Crescendo Communications, LLC
Tel: 212-671-1020
Email: jnvr@crescendo-ir.com
