Propnology, a property crowdfunding platform that is based in the UK and has been in operation since 2015, is equity crowdfunding on Dubai-based Eureeca. One of the first FCA approved property investment platforms, Propnology is seeking £300,000 for a 14% equity stake in the firm.
According to the Propnology website, the crowdfunding platform has raised £6.7 million having fully funded 13 different projects to date. Currently, Propnology has 3294 registered investors.
There are a handful of investment properties listed on the site today. While not all are open to non-registered viewers, Propnology appears to not be London centric like so many other UK property crowdfunding platforms. As many people know. the UK real estate market is tight. Residential demand far outstrips supply. Commercial property is at a premium. London is the most expensive location but, in general, development cannot currently keep up with demand.
Propnology says it has taken a different path from other property crowdfunding platforms as it has steered away from self-sourcing or renovating properties within limited geographical areas. Propnology seeks to leverage a network of professional partnerships to introduce property investment opportunities to the platform. Properties are introduced to the platform by property professionals and companies including estate agents, marketing and sourcing companies, property developers, fund and asset managers.
So why crowdfund on Eureeca instead of one of the multiple UK based crowdfunding platforms? That is not really explained but it appears to be because Propnology wants to source more investment from outside the UK. As we mentioned before, the UK property market is hot and a favorite destination of international investors. By listing on Eureeca, Propnology not only can raise some growth capital but may also be able to promote its platform to a broader audience of global investors.
For international investors living outside the U.K , they must first review any local requirements that prohibit or restrict them from using the platform. Beyond that, payments to Propnology must be made in £GBP.
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