This Crowdfunding Startup Just Raised $22.5M—And It Wants To Trade Properties Like Stocks
Real estate crowdfunding platform Property Partner just raised $22.5M in a funding round—$18.3M coming from an Octopus Ventures-led funding round and $4.25M from Silicon Valley Bank.
The one-year-old startup lets people buy a slice of rental property for as little as $70.76, advertising an estimated return of 13% per year after fees. The company has raised a total of $31.8M to date.
The London-based company plans to use the funds for overseas expansion and to launch new products—including one for institutional investors and a shared ownership product, Business Insider reports.
CEO Dan Gandesha (pictured) says his goal is to build a property stock market, where shares in rental properties can be traded over the Property Partner platform in the same way stock is traded.
Since Property Partner launched, 6,200 people have invested $34M into 166 properties. Not quite the Nasdaq, but it's a start. [BI]