UK-based Propifi has launched an equity crowdfunding campaign on Crowdcube to raise £250,000 for its peer-to-peer property crowdfunding platform. Founded earlier this year, Propifi stated it is bringing a new, easy to use, peer to peer commercial lending platform to market, providing much-needed bridging finance for customers with an aim to deliver high returns of 8-12% for investors on the platform.
“Propifi is founded specifically to cater to the massive demand for bridging finance in the UK, and to satisfy the increasing appetite for P2P property finance in the face of stagnating traditional lending channels. Our specialist team have been carefully selected in a market made up of 30 other key bridging lenders. We also aim to be not just lenders but project managers. We want to go beyond the brief and we have vast experience of getting deals agreed. Each and every development opportunity listed will be expertly qualified by our management panel.”
Propifi’s upcoming platform also offers an opportunity for retail and first-time investors to try their hand at bridge finance lending at any level. The company noted that its platform will showcase high quality, property development opportunities looking for short-term loans against the security of their property. Funds from the Crowdcube round will be used for the following:
- FCA Registration
- Web, App, and Platform Development
- Legal costs
- Operational overhead for 12 months
Since its debut, Propifi’s campaign has successfully secured more than £150,000 from nearly 80 investors. It is set to close at the end of August.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!