Property crowdfunding platform, Property Partner, has set a new record for the fastest ever equity project by raising £843,100 in 10 minutes 43 seconds – £1,311 per second.
This is believed to be the world’s fastest ever equity crowdfunding project to date. The previous record was set by Crowdcube with £1.2 million raised in 16 minutes in July 2014. It also beats Kickstarter’s record of $1 million raised in 30 minutes for smartwatch, Pebble Time, set in February 2015.
Property Partner’s previous record for the fastest property funded, set on October 29th, was for a property in Hayes and was funded in 16 minutes by 162 investors. The 42 flats funded yesterday are in a converted mill in Lincolnshire. They were sold to investors at a 7% discount, as part of Property Partner’s first ever ‘higher-yielding’ investment opportunity. In total, 318 investors made an average investment of £2,704 to purchase the 42 flats.
As a result, Property Partner has more than doubled its portfolio, taking the number of properties funded through the platform to 78. The company has more than 4,600 investors who have crowdfunded over £12 million of residential property.
Also, investors have the opportunity to trade their shares on the Property Partner platform. Almost £1.9 million of “resale” shares have already been traded on Property Partner’s rapidly growing “property stock exchange.”
Daniel Gandesha, CEO and Founder of Property Partner said:
“We are incredibly excited to have set what we believe to be a new world record. The speed of this crowdfunding demonstrates the power of our platform to make residential property investment accessible to everyone.
“Normally, only institutions, private equity houses and hedge funds would stand a chance of investing in a bulk-buy like this. But now anyone can invest in blocks of properties for as little or as much as they like. This is bringing power and choice to investors. And this particular opportunity offers an attractive net yield and immediate capital uplift for investors.Our mission is simply to make buy-to-let better. Better for investors, better for tenants, and better for Britain’s housing supply.”
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