While making the final preparations for its launch, upcoming UK real estate investment platform, BrickVest, announced it has received backing from Rocket Internet’s Global Founders Capital (GFC).
According to TechCrunch, GFC has invested in a startup before the platform open its investment doors. Although BrickVest nor GFC are disclosing the size of the investment, the media outlet shared BrickVest had secured over $1 million prior to Rocket Internet’s involvement from various unnamed tech angel investors, and real estate private equity investors.
Co-founder and CEO of BrickVest, Emmanuel Lumineau, stated:
“We are currently in the process of raising a multi-millions round of capital from existing and new strategic investors to further accelerate the development of our platform.”
Noting problematic situations that BrickVest has already encountered, Lumineau noted:
“The real estate investment market is full of unnecessary market inefficiencies, dominated by a closed network of deal-makers at the expense of both the ultimate investors and the real estate entrepreneurs/owners seeking capital.
“Our online real estate investment platform offers transparent investments in property globally. Investment opportunities are typically protected by ‘gatekeepers’ such as brokers, banks, insurance companies and big investment managers who are driven by self-interest (profit maximisation ergo high fees) and keep the deal opportunities to themselves. BrickVest brings together property owners, developers and investors to unlock the gate.”
In regards to any competitors, Lumineau added:
“Currently in Europe, we don’t have a direct competitor. Other platforms that use crowdfunding techniques to raise capital for property development are typically more local and residential focused, act as brokerage houses or are unregulated. We are a fully regulated platform which offers investors the full spectrum of fund management services.”