Long before “tokenization” became a fintech buzzword, Kentaro Sohara was already betting on the idea that real estate didn’t need to stay illiquid, opaque, or reserved for those with deep pockets. After a successful exit in Japan’s edtech space and stints at McKinsey and Bain Capital, Sohara moved to Europe and, together with co-founder Riccardo Momigliano, launched Piece in 2023 — a Milan-born platform that lets retail investors buy into already-rented, income-generating properties for as little as €100.
No construction risk, no property management headaches, just fractional ownership of real assets, wrapped in a fully BaFin-regulated structure. With €4.4 million raised to date and a recent cross-border pilot bringing Japanese real estate to European investors, Piece is quietly building the infrastructure for what could become one of fintech’s more durable trends: the tokenization of real-world assets. We sat down with Sohara to talk regulation, distribution, and why real estate’s next chapter might be written in fractions.
1-Tell us about yourself / your co-founder(s).
I’m Kentaro Sohara, a serial entrepreneur originally coming from Tokyo, now based in Europe. I had a successful prior exit in an educational tech company back in Japan, and have a background at Bain Capital and McKinsey. I started Piece since 2023 after seeing untouched opportunities in Real Estate Securitization market in Italy and in Germany.
2-Who are your target customers, and what problem / opportunity do you address for them?
Our target customers are retail investors looking to build and optimize their assets. Traditionally, real estate investment requires significant capital, time, and administrative effort. We solve this problem by drastically lowering the barrier to entry, allowing people to start investing in real estate from just €100.
3-What is your product / solution? Who do you compete with, and what is your USP?
We offer a digital platform where users can invest in tokenized real estate securities. Our unique selling proposition (USP) is that we only list existing, already-rented properties. This means our investors avoid the construction risks typically associated with real estate crowdfunding and can start earning rental income immediately. Furthermore, we operate under a strict, fully compliant regulatory framework supervised by the German authority, BaFin.
4-How do you help scale financial services (e.g. new customers, new products or distribution channels), and how can financial institutions partner with you?
We help expand access to alternative assets by providing a seamless, fully digital investment experience. Financial institutions and real estate developers can partner with us to tokenize their assets and reach a new, global pool of retail investors. For example, we recently partnered with Star Mica Holdings, a publicly listed Japanese real estate developer, to launch a pilot program selling Japanese properties to overseas investors.
5-What relevant industry trends or market shifts should we be watching? Any research or resources you can point us to?
The tokenization of Real-World Assets (RWA) and the evolving regulatory landscape in Europe (such as the German Electronic Securities Act) are major trends to watch. These regulatory shifts are bringing much-needed transparency and security to the market, making digital assets highly accessible and trustworthy for mainstream retail investors.
6-What is your current stage and traction, and how can our network help?
We are at Pre-Series A phase and so far raised €4.4 Million in total, to support our global expansion. We currently offer properties across Europe. Your network could be highly valuable in helping us connect with new real estate partners and strategic investors to further scale our property offerings and distribution channels.
7-What’s on your bookshelf or podcast app? Your favourite place for a coffee or a drink?
I enjoy listening to Fintech and Proptech podcasts to stay updated on global market trends. As for coffee, I love grabbing a cup at local independent cafes in Berlin and Milan, where our team is primarily based.
What stands out about Piece isn’t just the €100 entry point — it’s the discipline behind it. By listing only properties that are already generating rental income, the team has sidestepped the speculative promises that have tripped up other real estate crowdfunding models, choosing compliance and transparency over growth-at-all-costs.
As Europe’s regulatory framework for digital securities matures, platforms built on that kind of restraint may be the ones best positioned to bring tokenized real assets into the financial mainstream. Piece is still early — but it’s building for the long game.
Stay tuned for our upcoming editions as we continue tracking the bold innovators redefining the intersection of proptech, regulation, and alternative assets.