Property Partner, a London, UK-based residential property crowdfunding platform, raised £15.9m (approx. $22.4m) in Series B funding.
The company, which has raised £22.5m (approx. $31.7m) in total, intends to use the funds to grow the customer base by developing new segments, including institutional investors, new products, such as shared ownership, and hire new people.
Launched in January 2015 by Dan Gandesha, CEO, Property Partner operates a crowdfunding platform that allows people to buy, trade and sell shares of a residential property. Investments into a single property typically range from £50 to £50k. More than 6,200 customers have together invested more than £24m across 166 properties on the platform to date with £4.7 million shares already traded.