Property Partner, a London, UK-based residential property crowdfunding platform, raised £5.2m in funding.
The round was led by Index Ventures, which joined existing investors Octopus Ventures, Seedcamp and Ed Wray. In conjunction with the funding, Neil Rimer, co-founder of Index Ventures, and Ed Wray, co-founder of Betfair, will join Property Partner’s board of directors.
The company intends to use the funds to create a “global stock exchange” for residential property, offering properties across the UK and beyond.
Launched in January 2015 by Daniel Gandesha, CEO, Property Partner enables people to invest as much or as little as they like in individual residential properties. It currently lists properties in London and the South-East of England.
The properties are selected by Director of Property, Robert Weaver, RBS’ former Global Director of Residential Investment, who previously ran a £500m residential property fund.
To date, more than 1,000 people have invested sums ranging from £50 to £50k in homes through Property Partner’s crowdfunding platform.