Online real estate investment platform BrickVest has closed a Â£7m Series A funding round led by Berlin Hyp.
This investment marks one of the largest Series A investments into the PropTech sector.
London-based BrickVest is a pan-European real estate crowd investing platform, which allows users access to institutional-grade investment opportunities from as little as â‚¬1,000. The platform real estate companies to be connected with investors, family offices and institutional investors, helping to have a diverse source of capital.
Berlin Hyp, which is the real estate finance provider of Savings Banks Finance Group, has also acquired a minority stake in the company and formed a strategic partnership. Berlin Hyp may look to increase its stake in the company in the future.
The newly-formed partnership will allow the company to expand its investor base, the product and the deal catalogue. Berlin Hyp will gain access to the online investment platform, with the firm then able to advise its clients on a larger number of European real estate deals.
This round of capital will be used to continue investing in the productâ€™s technology and scaling its innovative platform to keep up with increased demand for real estate investment.
BrickVest CEO Emmanuel Lumineau said, â€œWeâ€™re delighted to have closed this series A fundraise with one of the largest amounts raised in the PropTech sector.Â Our unique partnership with Berlin Hyp is transformative for BrickVest and we have a tremendous opportunity to expand our investor base of institutional sponsors and family offices.â€
This funding round comes hot off the heels of the companyâ€™s initial funding round, which closed on Â£2m in March this year.
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