Portfolio, an investment app based in Manchester, has raised £1.5m from a hugely successful crowdfunding campaign.
The round of investment was open only to listeners of The Property Podcast – which is a show hosted by the company’s co-founders.
Portfolio was able to raise £1m within 9 hours of the campaign, before closing the round two days later on £1.5m, following investments from 817 investors. The campaign valued the business at £55m.
Portfolio is an app that enables people to invest through their phones and access the potential benefits of the property market without the challenges of deposits involved in buy-to-let.
Portfolio co-founder and CEO Rob Bence said, “The raise has completely blown us away. When we announced the launch of Portfolio and quickly built a waiting list of thousands within days, we knew the concept was connecting with people. Now to have our listeners believe in us to the point of wanting a piece of the business is just amazing – and a little emotional!”
“This is just the start. We’re incredibly excited about our mission to make property investment accessible to everyone, and it’s even more special that so many people are coming on this journey with us.”
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