A note from UK based investment crowdfunding platform Volpit indicates they have been acquired by Zion Capital. Deal terms were not revealed.
Volpit was launched in 2014 by Patrick O’Flaherty and Simon Oberman, and received full FCA approval, but struggled to gain traction in the UK marketplace that has been dominated by a handful of platforms.
Zion Capital was established in London 2014 and is a member of the Hong Kong based UCF group. Zion is a boutique investment and advisory firm offering investment and business advisory services to High Net Worth clients and institutions worldwide.
Zion Capital is expected to rebrand from Volpit into “ShareCredit Property” and redevelop the platform into a property crowdfunding platform to compete with the likes of Property Partner and Property Moose.
“We want to give more people better access to the UK residential and commercial property market. Our acquisition of Volpit will make it much easier for investors in the UK and overseas to access the attractive returns on offer in UK residential and commercial property,” said Julia Wang, CEO of Zion Capital.
O’Flaherty is expected to join the new operation and David Wan, originally the head of marketing and compliance at Volpit, has joined Zion Capital to lead operations and compliance.