Partnering with proptech innovators to build the future of real estate together

Factors currently affecting companies the proptech industry

Strong investment appetite from major corporations in the real estate and mortgage industries

In recent years, numerous prominent corporations in the insurance, real estate, and mortgage industries have established in-house venture arms to facilitate strategic investments in proptech startups. These companies recognize that it is often more effective to invest in an early stage growth company than to attempt to develop the technology in-house. Strategic investments provide benefits such as commercial introductions and mentorship to the startup founders, which can help enhance the company’s long-term growth trajectory.

Proptech innovation has accelerated with the advent of technologies such as AI, Blockchain and IoT

The proptech industry is undergoing rapid growth, with a projected global market size of $24.9 billion by 2025. A new generation of early-stage companies is utilizing cutting-edge technologies such as AI, blockchain, and IoT to enhance scalability and provide advanced data analytics in a secure and compliant manner. The adoption of technology-oriented service providers is gaining momentum among mortgage and real estate industry participants, who are discarding many of their legacy manual processes.

Technology solutions can provide cost savings to industry participants hampered by the decline in mortgage originations

Technology solutions have the potential to significantly reduce costs for mortgage lenders and title agents. Digitization and automation for the title search and mortgage origination process can streamline workflows and reduce the need for manual labor. Additionally, technology solutions can help title agents identify potential risks associated with a transaction more quickly and efficiently, which can reduce the likelihood of claims and litigation, and mitigate associated costs.

It can take a lot of capital to fuel growth

Growth capital can accelerate momentum by providing the financial resources that companies need to expand their operations and pursue strategic initiatives. With access to additional funding, companies can invest in new technologies, expand their product offerings, enter new markets, and make strategic acquisitions. Capital raising is a full-time job and management teams already have one (or more). Our team has a vast rolodex (excuse the analog term) with financial and strategic investors who are laser focused on proptech companies enabling us to rapidly find the right partner for your proptech business.

Services Offered

Proptech Team

We are subject matter experts in the proptech industry

Steven Palmer

President

Steve founded Draycott Place Consulting in 2018 to assist companies to take advantage of growth opportunities and address operational challenges. Prior to launching Draycott Place, he was the CEO of Entitle Direct Group, Inc., the holding company of EnTitle Insurance Company, a nationally licensed Title Insurance Company for four years. Steve was responsible for setting strategy, and all aspects of the company’s operations including interfacing with the company’s clients, rating agencies, and regulators. He led the company to a sale to Radian Group (RDN:NYSE) in 2018.

Prior to leading Entitle Direct, Steve headed up the private equity group at PartnerRe Ltd, a global reinsurance company with $8 billion of total capital. While at PartnerRe, Steve originated, negotiated, structured, and monitored a portfolio of direct and fund investments many of which were designed to take advantage of the mortgage crisis that was unfolding at that time. For instance, Steve served on the board of directors of MountainView Capital Group, a leading mortgage advisory firm. Steve was also a board observer for Essent Group for four years beginning at the time of its founding.

Steve has an MBA from the Tuck School at Dartmouth College, and a BBA from Wilfrid Laurier University and is Chartered Financial Analyst. Steve maintains the Series 7, 63, and 79 FINRA Registrations through Weild & Co.

In addition to being a father of two young(er) children, he also volunteers with Hire Heroes USA, which provides job search assistance to US military veterans and their spouses and helps companies connect with opportunities to hire them.

Jerrod Reddick

Vice President

Jerrod is a Vice President at Draycott Place Partners, where he joined in 2021 to help the firm expand its SaaS and fintech capabilities.

Prior to joining Draycott Place, Jerrod founded a management consulting firm that specialized in delivering high-quality services to growth-stage companies, with a particular focus on SaaS and fintech verticals. During his time in consulting, Jerrod worked with over 50 companies, providing expert guidance on the capital raising process, refining financial models, developing KPIs to showcase to potential investors, and forging relationships with key capital partners. Jerrod believes that every client is unique, and he prides himself on gaining a deep understanding of each client’s revenue and expense drivers to create tailored offering materials that deliver successful transactions.

Before launching his consulting business, Jerrod served as an Associate in the U.S. Equity Sales & Trading Division at Evercore, where he was involved in several IPOs and secondary offerings and developed strong trading relationships with large hedge funds and institutional money managers.

Jerrod began his career at J.P. Morgan Asset Management in the U.S. Equity Division, where he worked on a $60bn value-oriented U.S. equity portfolio. His experience included bottom-up equity analysis, macro research, and investor relations.

Jerrod holds a degree in Finance & Accounting from Kansas State University and maintains the Series 7, 63, and 79 FINRA registrations. He currently resides in the Bay Area and remains involved with Kansas State through participation in the executive mentorship and young alumni leaders’ programs.

Robert (Bob) Smith

Strategic Advisor

Robert J. (Bob) Smith has enjoyed a diverse career in financial services, centered on the strategic and operational leadership of mortgage banks and affiliated businesses. His common sense approach balances service excellence, regulatory compliance and operational efficiency, while fostering a collaborative and engaging environment for his team.

During his tenure in the financial services industry, Bob has held numerous senior level positions for some of the most respected companies including Merrill Lynch, PHH, Discover Financial Services and BNY Mellon. He most recently served as EVP, Corporate Development/Strategy for Real Matters (TSE: REAL), a Canadian based fintech with affiliated businesses in the U.S., which included Solidifi Title & Closing, where Bob served as President since 2019. Bob began his career in public accounting with Deloitte, where he was recognized as a National Industry Specialist in the bank/thrift and real estate industries. He was a Senior Manager when he left the firm after eight years to join one of his clients, Merrill Lynch.

Bob has amassed vast subject matter expertise in U.S. housing finance, mortgage lending, capital markets, and regulatory matters. He has a proven track record of driving enterprise value through organic growth and inorganic strategies via small-medium scale M&A and strategic partnerships. He has operated with P&L responsibility in both bank and non-bank environments and led teams across multiple distribution/operating models.

He currently sits on two boards –the Gator Bowl Association (a501(c)(3) benefiting higher education) and AS Direct Mortgage Capital, a European mortgage bank and services company. From 2003-2011, he was a member of the Board of Directors of Atlantic Coast Bank (NASDAQ: ACFC), serving as Chairman of the Audit Committee and a member of the Compensation and Corporate Governance Committees.
On the personal side, Bob is married with 6 children, enjoys travel, golf and is an avid snow skier. He and his wife Margaret split time between Atlanta and Steamboat Springs, CO.

Stenwyn A. Joseph

Strategic Advisor

Sten is the owner and CEO of MGJ Advisory Solutions, a provider of valuation and risk management services for financial institutions investing in residential mortgage related portfolios. In his current capacity, Sten provides leadership and subject matter expertise to integrating key portfolio management functions surrounding Level III assets including Mortgage Servicing Rights, Non-Agency Bonds and Whole Loans as well determines the strategy and execution path of MGJ Advisory Solutions.

Prior to founding MGJ Advisory Solutions, he was the Chief Financial and Operating Officer at MountainView Financial Solutions, a leading consultancy, where he led the growth and development of the Analytics divisions including Model Risk Management, MSR Risk Analytics, Core Deposit Analysis and Bond / Whole Loan Valuation Analytics.

Sten has been influenced by a 30-year career in the residential mortgage banking industry specializing in investment portfolio management for various asset classes, secondary marketing and financial reporting. Leveraging his strong technology background, he is able to identify and implement strategies to ensure financial profitability, effective growth and operational efficiency while also mitigating risk. In his various capacities, he has developed, implemented and directed governance for various third party and proprietary discounted cash flow, performance (prepayment, default, decay rates) and hedging models supporting the assets under management.

Sten earned a Bachelor of Science in Accounting degree from Florida Metropolitan University and achieved certifications as a Certified Network Engineer (CNE) and Microsoft Certified Solutions Developer (MCSD) certified in Visual Basic and SQL Server.

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