easyGroup’s latest venture easyProperty – an online letting agent – has now closed its crowdfunding campaign on Crowdcube after raising more than £1.4m off a target of £1m, an over subscription of 42%.
The pitch attracted a total of 396 investors and the single biggest investment totalled £200,000.
easyProperty aims to offer unbundled property services at huge discounts and claims to offer savings of around £7,000 on an average London property.
The online lettings platform – due to launch a sales service in 2015 – was founded by former estate agent Robert Ellice and has been backed by easyGroup founder Sir Stelios Haji-Ioannou.
“The ‘easy’ philosophy is simple – disrupting the status quo and offering people significant savings on what they would normally pay. Now it’s time to shake up an out-dated property industry,” explains Ellice. “By offering a stake in the company, easyProperty is giving landlords, property vendors and private investors a unique opportunity to be part of a market revolution,” he added.
Luke Lang, co-founder of Crowdcube added: “Just as Crowdcube disrupted the finance industry with a new and fresh approach to raising money, easyProperty is planning to do the same for landlords and people buying and selling property. Ordinary investors can now claim a stake in the ‘easy’ brand and help shape the future of the online estate agency market.”
easyProperty launched on September 17th and the firm has already announced plans to expand across Europe in the future as well as in to commercial property.
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