Octopus Ventures leads $22.4 mln “Series B” for Property Partner
London-based Property Partner, a property crowdfunding platform, raised 15.9 million pounds ($22.4 million) in “Series B” funding, bringing the total amount invested in the company to 22.5 million pounds ($31.7 million).
London-based Property Partner, a property crowdfunding platform, raised 15.9 million pounds ($22.4 million) in “Series B” funding, bringing the total amount invested in the company to 22.5 million pounds ($31.7 million). Octopus Ventures led the round with participation from Index Ventures and Dawn Capital.
Property Partner – the property crowdfunding platform that allows anyone to invest in residential property at the click of a button – today announces the successful completion of a £15.9m ($22.4m) funding round, taking the total amount invested in the company to £22.5m ($31.7m).
Launched barely a year ago in January 2015, Property Partner already boasts more than 6200 customers – who have together invested more than £24m across 166 properties – and has been recognised by KPMG as one of the world’s top 50 emerging Fintech companies.
Property Partner’s mission to make property investment available to all has now received a substantial boost, after it became one of just a handful of European Fintech firms to successfully secure “Series B” funding. The investment round is being led by Octopus Ventures, with participation from Index Ventures and Dawn Capital.
With one property launch per week, Property Partner is already one of the most active buyers in the UK residential market. Investors earn an estimated return of 13% per annum, after fees — free from all the hassles of conventional buy-to-let.
Through the power of the crowd Property Partner is making the property market better: not just for investors but also for tenants, first time buyers and housing supply. Tenants receive a professional rental experience, aspiring first time buyers track the housing market with their deposit savings, and small developers get improved cash-flow to accelerate property transactions, increasing housing supply.
But what makes Property Partner completely unique is its flourishing resale market. This property “stock exchange” allows investors to buy, trade and sell their shares on the platform. With £4.7 million shares already traded, Property Partner is bringing a hugely valuable measure of liquidity to the residential asset class.
Property Partner will use this investment to expand across the board. Plans are in place to grow the customer base by developing new segments, including institutional investors. Exciting new products, such as shared ownership, are in the pipeline. The funding will help Property Partner attract the best talent to join an expanded team, to bring its unique, revolutionary product to the widest possible market – here in the UK, and beyond.