Just a little over six months after raising nearly 275,000 through its previous Seedrs campaign, Prop-tech startup Brickowner has returned to the equity crowdfunding platform to raise £225,000.
Brickowner reported investment through its platform has grown from £347k in 2017 to £1m by February 2018, and over £10m by April 2019. The company further explained that for property asset managers and developers, we manage their investor onboarding – Anti Money Laundering (AML), Know Your Client (KYC), investor categorization, and escrow requirements.
“This process is increasing in complexity due to increased regulation, and is often done offline, which is slow and expensive. By taking this online for them, we allow them to save money and focus on their core business, property. As part of this service, we make these investments easier to access for crowd investors on our platform, providing them with professionally managed property investments they wouldn’t otherwise have access to. This benefits the investors and the asset managers. Our addressable market is all property developers and asset managers who need to streamline their third party investor onboarding and management, and all investors wanting to invest into property.”
In regards to what the campaign’s funds will be used for, Brickowner noted that the round to cover capital costs to support growth, including:
- Senior hires to expand our capacity
- Significant improvements to our existing tech
- Developing some new technology to increase the products we can offer
Brickowner went on to add:
“We continue to follow a strategy towards sustainable growth, with a bottom-line focus on revenue generation. We only raise working capital when it is required to support growth in the business, and we raise only what we need. We feel this strategy creates the right mix of shareholder growth and protection of existing shareholders against unnecessary dilution.”
The funding round is set to close in September.
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