The Tool Desk
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Who backed the $3.6 million seed round
According to the company’s funding announcement, the seed round was led by Anitha Vadavatha of AY Ventures. Other named participants were:
- Tim Draper & Associates
- Draper B1
- InterVest
- Draper Dragon
- Blizzard Fund
- Angel investors including Rosie Rios, plus executives from Goldman Sachs, J.P. Morgan, and Carlyle (the announcement did not name the individual executives)
A named investor list tells you who put money in, not how the company performed afterward. Investors in a seed round typically buy into a company’s plan and team, and that is the only thing this round establishes.
What Mogul offers, as described in 2023
TechCrunch’s November 2023 report on the launch described Mogul as a fractional real estate investment platform focused on single-family rental homes. It said the company was built on blockchain to track property ownership and investments. At launch, the company reported about $2.5 million in assets and planned to offer $10 million worth of single-family rentals by the end of 2023. The $10 million figure was a stated plan at the time, and the reporting does not show whether it was reached.
#1 Best Overall
Fractional ownership of rental homes
Fractional investing lets several people hold a share of a property rather than buying the whole thing. The stated goal is to lower the capital and management barriers that keep many people out of rental property ownership. Mogul’s pitch is that an investor can take a stake without buying, financing, and managing a house directly.
Blockchain as back-office infrastructure
The CEO told TechCrunch that users do not need any familiarity with blockchain. The company framed the technology as the record-keeping layer behind property ownership and investment tracking, not as something investors interact with directly.
Property screening
Alex Blackwood, Mogul’s co-founder and CEO, described the company’s screening as rigorous and said less than 1% of properties offered on and off market made it onto the platform. That is a company-reported selection claim. TechCrunch’s report also said Mogul shared legal documents with investors. Neither point has been independently verified.
Rank #2
The fee structure reported in 2023
TechCrunch reported the following fee model, attributed to Blackwood. These terms were reported in November 2023. They are not confirmed current pricing, and you should check the platform’s current fee disclosures before investing.
| Fee | Reported rate (Nov. 2023) | How it applies |
|---|---|---|
| Property onboarding fee | 3% | Capitalized into the property raise |
| Onboarding fee for properties needing capital expenditure, maintenance, or lease-up | 2% | Applies in those cases, as reported |
| Rental-income fee | 2.5% | Charged on rental income |
Because fees come out of property economics before investors see returns, compare fee tables across platforms directly rather than relying on headline return numbers.
Company-reported scale and performance in 2026
Mogul’s About page publishes figures with different as-of dates. None of them are independently verified, and the company itself warns that past performance does not indicate future results and that results may vary.
| Metric | Figure | As of | Source and type |
|---|---|---|---|
| Assets | $110 million | June 1, 2026 | Mogul About page; company-reported |
| Target IRR range | 12–20% | Sept. 28, 2026 | Mogul About page; a target, not a realized result |
| Record monthly yield | 4.47% | Sept. 28, 2026 | Mogul About page; a single best month, not an average |
| Users | More than 50,000 | Sept. 28, 2026 | Mogul About page; company-reported |
Inc. reported on September 28, 2026 that Mogul had facilitated more than $100 million in investments across more than 150 properties, had 50,000 sign-ups, and had a 70% repeat investment rate. Inc. attributed these statements to the company and an interview with it. “Users” on the About page and “sign-ups” in the Inc. report are different measures, so they should not be added together or treated as the same count.
Mogul.club is becoming Mogul.com
Inc. reported on September 28, 2026 that the company was dropping its Mogul.club domain and moving to Mogul.com. Inc. also reported a $1.3 million domain purchase. That figure is separate from the 2023 seed round and from the platform’s scale claims. If you find older links to Mogul.club, expect them to redirect or go stale.
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Mogul’s website states that it is not a registered broker-dealer or investment adviser, and that it does not provide investment advice or recommendations. It also says the company does not guarantee performance or the return of capital, and that investments involve risk and may result in partial or total loss. These are the company’s own disclosures. They are not an independent legal assessment, but they set the baseline for what the company says it does not promise.
- Fractional ownership does not remove investment risk.
- A fractional stake does not make the investment liquid. Check the exit terms and transfer limits in the offering documents before committing money.
- Rental income and appreciation are not guaranteed. Target returns and company-selected examples are not realized, independently verified outcomes.
- The sources available do not establish realized performance across the platform as a whole.
The company’s website also links to referral terms. The available material does not confirm the current terms or whether those links are eligible for placement, so verify them directly before acting on any referral.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the quotes do and do not show
Blackwood told TechCrunch: “We started the company because we were looking for low-touch ways to deploy personal capital into high-quality real estate outside of the office.”
Tim Draper, an investor in the seed round, told TechCrunch: “They focus on making it really easy for the individual to buy real estate securely, keep perfect records, to pay their taxes and get the tax refunds — so it works for everybody.”
Both are statements by people with a stake in the company’s success. Neither is a measure of how the platform performs. The reporting also includes no comment from a neutral regulator, court, or standards body about Mogul specifically, so there is no independent check on these claims.
How to evaluate any fractional real estate platform
The sources identify several other fractional real estate platforms, including Arrived, Fintor, and Fractional, but they do not compare them on equal terms. If you are comparing Mogul with another platform, use the same questions for each:
- Minimum investment: the smallest amount you can put in, and whether it is per property or per account.
- Property types and geography: what kinds of properties are offered, and where they are located.
- Investor eligibility: whether the offering is open to all investors or limited by accreditation or residence.
- Fees: every charge at onboarding, during the holding period, and at exit, with current rates from the offering documents.
- Liquidity and exit limits: how and when you can sell your stake, and what happens if no buyer appears.
- Offering structure: who owns the property, how the stake is documented, and what legal rights you hold.
- Reporting: how often you receive financial statements and whether they are audited.
- Target versus realized performance: whether published returns are targets, projections, or results actually paid out to investors.
Do not infer that one platform is better because its marketing claims are larger. Scale figures and record months tell you what a company chooses to publish, not what an individual investor will earn.
For Mogul specifically, the 2023 seed round confirms that investors backed the company at that point. It does not confirm the current fee terms, the performance of any property, or the outcome of any investment.
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The Bottom Line
The $3.6 million round shows that a group of investors backed Mogul’s fractional rental-home model in late 2023. It does not show how the model has performed since. Read the current fee schedule, the offering documents, and the company’s risk disclosures before deciding whether any of its offerings fit your situation.
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