First fintech crowdfunding platform in Wales launches

The first fintech crowdfunding platform in Wales has launched, offering fractional ownership on residential and commercial property.

ShareProperty aims to simplify property investment by analysing the market for suitable investments, letting the public take a piece of lucrative real-estate projects.

It adopts a rigorous due diligence approach, which results in over 90 per cent of property deals not meeting the platform’s criteria. So, only the best are presented to investors.

Members are able to invest as little as £150 in return for shares within the company that owns and manages the single property asset. Returns are paid through the platform.

Share Property explained to Tech Dragons that “returns can come by way of regular dividends and capital growth either on disposal or refinancing of the asset”.

David Rees, who co-founded the business, believes that now is the time to get involved in real-estate technology. He said: “We enter a new era of investment where technology creates process efficiency and opens up the market for property investment to a wider user group. 

“This peer-to-peer “democratisation” effect, allowing for “direct investment”, can to some extent become a societal leveller and something for which I have a passionate belief”

The team is currently raising funds for the business on crowdfunding website Seedrs. Within just a few days, it’s already reached its goal of £80,000, with 73 people investing.

George Grigg, his co-founder, said: “People are unaware of just how many alternative investment opportunities are now out there. The technology is available and businesses are starting to really accelerate their application to relevant market sectors.

“The potential is a sophisticated, end-to-end investment, research, and management system for the property investment market in every living room in the country.

“We also wish to streamline the practice of raising funds for SME developers. We need to refurbish properties in this country and at the moment the lending environment is not allowing the SME private sector to contribute to the structural supply/demand problem.”