{"id":371,"date":"2015-03-21T09:51:31","date_gmt":"2015-03-21T09:51:31","guid":{"rendered":"https:\/\/blog.propertypartner.co\/?p=371"},"modified":"2019-02-21T10:51:31","modified_gmt":"2019-02-21T10:51:31","slug":"property-partner-raises-5-2m-to-build-global-stock-exchange-for-residential-property","status":"publish","type":"post","link":"https:\/\/www.londonhouseexchange.com\/blog\/property-partner-raises-5-2m-to-build-global-stock-exchange-for-residential-property\/","title":{"rendered":"PROPERTY PARTNER RAISES \u00a35.2M TO BUILD \u2018GLOBAL STOCK EXCHANGE FOR RESIDENTIAL PROPERTY\u2019"},"content":{"rendered":"

London, 21 March 2015:<\/strong> Residential property crowdfunding platform, Property Partner, today announces a \u00a35.2m funding round to transform the way people invest in the residential property market.<\/p>\n

By bringing innovation and simplicity to a previously hard-to-access marketplace, Property Partner enables people to invest as much or as little as they like in individual residential properties – just as they can in company stocks.<\/p>\n

The investment, led by Index Ventures, will be used to help Property Partner create a \u2018global stock exchange\u2019 for residential property, offering properties across the UK and beyond.<\/p>\n

Index Ventures – investors in fintech pioneers such as TransferWise, Funding Circle and Wealthfront – join Property Partner\u2019s existing investors, who include Octopus Ventures (backers of Zoopla), Seedcamp (backers of TransferWise) and Ed Wray (co-founder of Betfair).<\/p>\n

Launched in January 2015, Property Partner currently lists properties in London and the South-East of England. The properties are selected by Director of Property, Robert Weaver, RBS\u2019 former Global Director of Residential Investment, who previously ran a \u00a3500m residential property fund. Robert Weaver is a member of the British Property Federation\u2019s Residential Committee.<\/p>\n

To date, more than 1,000 people have invested sums ranging from \u00a350 to \u00a350,000 in homes through Property Partner\u2019s property crowdfunding<\/a> platform, with the average investment size rising continually since launch.<\/p>\n

In addition, Property Partner has already seen significant activity on its unique \u2018resale\u2019 market, where investors can buy and sell shares in fully-funded properties. For example, the first property to be crowdfunded on the Property Partner platform, a house based in Croydon, has seen more than 50% of its shares traded on the resale market.<\/p>\n

Neil Rimer, co-founder of Index Ventures, and Ed Wray, co-founder of Betfair, which floated on the London Exchange at a valuation of \u00a31.4bn, will join Property Partner\u2019s board of directors. Both are also directors of Funding Circle, the fast-growing peer-to-peer lending marketplace.<\/p>\n

\u201cIndex are a great investor to have on board, with really deep experience in both fintech and cross-border growth,\u201d said Daniel Gandesha, Property Partner\u2019s CEO. \u201cI can\u2019t imagine anyone better placed to help us deliver our long-term vision for Property Partner – as a global stock exchange for residential property.<\/p>\n

\u201cWe 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.<\/p>\n

\u201cThe 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.\u201d<\/p>\n

Neil Rimer, co-founder, Index Ventures, added: \u201cA 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.<\/p>\n

\u201cIn 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<\/a> into the mainstream, across the globe.\u201d<\/p>\n

Meanwhile, Ed Wray, co-founder, Betfair, and Director, Funding Circle, said: \u201cFractional ownership of property is a wonderful idea. It\u2019s one that many of us might have had, but only Property Partner is making it a reality, along with a secondary exchange that allows investors to trade their stakes.<\/p>\n

\u201cI have known Dan and the team since they started out and am delighted to join their board of directors, as they start on a journey to transform this asset class. Like with Betfair and Funding Circle, I am excited by the opportunity to work with a team who are going to change a consumer proposition permanently, and for the better.\u201d<\/p>\n

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