Property investment platform Brickowner has raised £215,822 in its latest crowdfunding campaign, surpassing its initial target.
The crowdfund, which is being raised through the Seedrs platform, initially had a target of £150,000, and is being raised at a pre-money valuation of £5m.
Through the £215,822 sale, investors have picked up a combined total of 4.14 per cent of Brickowner’s equity. With the company’s initial target, the company was looking to deploy 2.91 per cent of its equity.
There have been up to 183 investors to contribute to the round of the London-based FinTech.
This is the second crowdfunding campaign the company has exceeded its original target for. Last year, Brickowner pulled in £125,722 through a crowdsale which was primarily aiming to raise £120,000.
Its previous crowdfund was backed by 218 investors whom received a combined 4.79 per cent of the company’s equity. The previous round was being raised at a pre-money valuation of £2.5m.
UK-based Brickowner helps customers to invest in exclusive institutional grade property investments, which are usually locked off from the public. A minimum investment size is set at £100, and a user can create their own portfolio, controlling what to invest in, how much, and when.
Through the solution a user will receive a share of any monthly rental income from a property they backed, proportional to the amount they contributed. The contributor’s investment will also be scaled with any change in value for the property.
When looking to exit an investment a shareholder can sell their stake to another investor on a secondary market, deciding how much they a willing to sell for.
The company also helps asset managers and developers by managing their investor onboarding which includes AML and KYC processes.
Since the platform launched at the start of 2017, investment on the app has grown from £348,000 over the whole of 2017 to £4.9m in just the first three quarters of 2018.
Copyright © 2018 FinTech Global