£5 million investment for property crowdfunder

£5 million investment for property crowdfunder




A residential property group which specialises in crowdfunding has announced a massive cash injection of more than £5 million.

A residential property group who specialise in crowdfunding has announced a massive cash injection of more than £5 million.

Property Partner, who aims to help homebuyers purchase properties, has been handed £5.2 million by global investment group Index Ventures.

Both groups are now hopeful that the cash will allow Property Partner to create an infrastructure which will make it easier for house hunters to have access to affordable property.

Commenting on the agreement, Daniel Gandesha, CEO of Property Partner, believes that Index’s investment proves the increasing trust in crowdfunding as a viable way to make residential property more affordable.

“Index are a great investor to have on board, with really deep experience in both fintech and cross-border growth,” he said.

“I can’t imagine anyone better placed to help us deliver our long-term vision for Property Partner - as a global stock exchange for residential property.

“We are convinced that this model for property investing is a highly attractive alternative to buying properties directly. We also believe strongly in providing tenants with a more professional service, because tenants who are treated well and fairly are more likely to stay longer.

“The UK government's housing objectives are being delivered through initiatives including shared ownership and build to rent. Both of these play to our strengths and could be offered on our platform in the future.

"We want to be the property investment method of choice for the UK and beyond.”
Neil Rimer agrees, claiming that the likes of crowdfunding are revolutionising property investment.

“A reinvention of residential property as an asset class is currently underway. It is being democratised and opened up to a far broader range of people, who can now invest without the hassle and liquidity problems that have traditionally plagued direct investment in property,” he added.

“In Property Partner, we believe we are backing an exceptional team with the skills to spearhead the growth of this exciting new sector and take property crowdfunding into the mainstream, across the globe.”

In addition to the donation, Neil Rimer will also take a seat on Property Partner’s board of Directors.

Launched in 2015, Property Partner currently lists properties in London and the south-east of England.

The property selection process is headed up by former RBS Global Director of Residential Investment, Robert Weaver.

To date, more than 1,000 people have invested sums ranging from £50 to £50,000 in homes through Property Partner’s crowdfunding platform, with the average investment size rising continually since launch.

 

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