New fintech startup Property Partner has raised a £1.25m pre-launch seed round as it looks to tap into Britain’s £5tn property market.
The London-startup lets users invest in buy-to-let properties and receive rental income each month based on how much they have put in.
The investment comes from Octopus Investments, acceleration fund Seedcamp, and a number of other high profile investors including Betfair co-founder and Funding Circle Board member Ed Wray and Better Capital founder Jon Moulton.
Launching soon
It’s a sizeable investment for a company that has yet to launch.
Interested users can currently register for early access via its website ahead of its launch in the coming weeks.
Founded by Daniel Gandesha, a Chartered Accountant disillusioned with the lack of flexibility in the buy-to-let industry, Property Partner combines real estate crowdfunding with the opportunity for investors to subsequently trade their holdings.
Transparency and ease
Gandesha explains:
Buy-to-let has many hurdles which put people off, including the significant up front cash requirement, exposure to unexpected costs, administrative burden and legal obligations.
Property Partner hopes to bring accessibility, simplicity and flexibility to the industry, giving people who otherwise might not invest the transparency that they desire.
Its mantra is similar to that of Nutmeg, another London-based fintech company who wanted to bring similar opportunities to the portfolio management industry.