NoAgent pulls in £498k for crowdfunding campaign, so far


Real estate platform NoAgent has surpassed its initial crowdfunding target, having pulled in £498,108 so far.

The UK-based company originally targeted £400,002 for its Seedrs campaign, at a pre-money valuation of £7m. An offering of 5.40 per cent equity was set for the crowdfund; however, with the increase contributions, the company has issued 6.64 per cent.

There have been around 410 investors to take part in the funding round, according to the campaign page.

No Agent is an online property management platform that removes the need of real estate agents. The platform, which has a fixed £35 pcm fee, enables a landlord to mange their properties of pay for a letting agent to handle the assets.

Users can implement the platform to find tenants, set up viewings, customer profiling, conducting credit checks, manging repairs and inspections, collecting rent and ensuring compliance. Through the technology, a landlord can access real-time tracking for who has paid rent and set up insurance to cover for any missed payments or legal and eviction costs.

There has been a string of PropTech investments over the past month. Earlier in the week, JLL Spark made its first strategic acquisition, with an undisclosed investment in to property management company Stressa. Last week, online property listing platform Purplebricks netted a $177m funding round from Axel Springer.

In 2017, there was a QoQ rise to the level of funding, with the final quarter seeing a colossal $1bn deployed, according to data by FinTech Global. The final quarter saw $150m more capital deployed, than the combined total of the other quarters.

Copyright © 2018 FinTech Global

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