Property crowdfunding platform Brickowner has exceeded its funding round target, pulling in up to £125,722.
The company is raising this capital at a £2.5m company valuation, pre-money. The crowdfund had an original target of £120,012 via the sale of 4.58 per cent equity; however, Brickowner has now sold 4.79 per cent equity. So far, there have been up to 218 investors contributing to the crowdsale.
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 around £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 share holder can sell their stake to another investor on a secondary market, deciding how much they a willing to sell for.
The company was co-founded in 2015, by Tobias Stone and Fred Bristol. Stone is also currently the founder and CEO of innovation accelerator company Newsquare Associates, while Bristol previously severed as CEO for seven years at property management company Bristol Estates.
Crowdfunding platforms have had a recent surge in funding, with Crowdfunder UK closing its own campaign on £1.2m. Other companies in the sector to raise capital in the past month include, Italy-based solution 200 Crowd bagging €300k to support the launch of new tools and crowdlending platform WeShareBonds nabbing £12m in a round to support loans issued by the company.
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