Prop-tech startup Brickowner has successfully secured its initial £225,000 funding target through its latest equity crowdfunding round on Seedrs. The company is currently offering 2.31% in equity at a £9,504,690 pre-money valuation.
As previously reported, Brickowner reported investment through its platform has grown from £347,000 in 2017 to £1 million by February 2018, and over £10 million by April 2019. The company further explained that for property asset managers and developers, it manages 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.”
Funds from the latest Seedrs round will be used for the following:
- Senior hires to expand our capacity
- Significant improvements to our existing tech
- Developing some new technology to increase the products we can offer
Brickowner added
“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 campaign is set to close in September.
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