First raise completion for Welsh property development crowdfunding platform
Shareproperty, a new crowdfunding platform that enables people to start building an investment grade property development portfolio, has completed its first raise.
The company has announced that it’s seen its first property competition. It’s raised more than £34,000 for the purchase of a commercial property based near Stratford.
26-year-old technology entrepreneur George Grigg and ex investment banker David Rees launched the platform in 2016, after raising £150,000 through Seedrs.
They set up the website to help streamline the lucrative property investment sector and enable more people to become property investors. Users can commit as small as £100.
Boasting technology-driven approach to property investment, the platform provides touch-of-a-button access to budding and experienced property investors.
The company said that it is “unique in the property-crowdfunding space due to its specialist approach to targeting large, modern, new-build development complexes across the UK”.
Although the minimum amount users can invest is £100, there’s no maximum limit. This means that high net worth individuals and retail investors can also use the platform.
After completing its first raise, the company has said it’s working on fifty more development properties, including a mix of flats, student accommodation, co-working spaces, offices and hotels.
George Grigg, who co-founded the business, said: “Being able to invest in property and build a portfolio can seem like a distant dream for lots of people.
“We want to change that. Our team and partners of industry experts are there to manage the entire process from beginning to end, and provide a solid basis in which to get involved pretty easily in property investment.”
“All they need to do is browse through the properties we have live, select the ones they want to invest in, and the amount they want to invest.
“They then receive communications and any returns, as well as management tools. There’ll be more updates and innovations in the near future as we’re keen to progress the platform quickly.”