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TODAY'S OTHER NEWS

Property Partner to expand in the UK and 'beyond'

Property crowdfunding website Property Partner has announced the completion of its own latest funding round, in which it secured investment of £15.9 million.

This takes the total amount invested in the company to over £22 million.

The website launched in January 2015 and has so far attracted over 6,000 investors, who have ploughed in more than £24 million across 166 properties.  

Property Partner says its mission is to make property investment available to all and it has received a timely 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. 

The website, which currently launches one investment property per week, claims it's already one of the most active buyers in the UK residential market. 

The platform allows investors to buy, trade and sell their shares and some £4.7 million of shares have already been traded.

Property Partner says it will use the latest funding to expand its team and product in the UK and beyond.

"This significant investment is a huge vote of confidence in our business model, and our vision for making the property market better for everyone,” says Dan Gandesha, Property Partner's CEO.

“These funds will help propel us towards our ultimate goal – that of being a global stock exchange for property.” 

Jo Oliver, Investment Director at Octopus Ventures added: “The £5.75 trillion UK property market has been slow to embrace technology.” 

“However, this is now changing rapidly and Property Partner is one of the companies leading this disruption. Through its combination of technology, business model and excellent management execution Property Partner is dramatically increasing and improving the accessibility of property as an investment asset class.” 

Back in November, Property Partner announced the details of its first 'higher-yielding' investment, a block of 42 flats in Lincolnshire.

Just this week the UK Crowdfunding Association reported that there has been a surge of new property crowdfunding platforms, saying 14 of its 40 members are recently-established property-focused sites. 

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