Just a few weeks after launching its equity crowdfunding campaign on Seedrs, UK property crowdfunding platform British Pearl has successfully secured its initial £2 million funding target from more than 430 investors.
As previously reported, British Pearl describes itself as an online property investment platform facilitating share and loan-based investment in UK property. The platform claims its site is helping revolutionize the way people invest in property by facilitating investment in buy to let and development projects for as little as £100, as either shareholders or lenders, while also enabling developers to raise equity and debt funding.
The funding round on Seedrs comes less than six months after British Pearl secured £7 million through an investment round led by Lord Stanley Fink. At the time of the investment, Lord Fink stated:
“I’m backing British Pearl and UK property for three reasons: first, the country is in desperate need of new homes, which the Government is working hard to provide, so the fundamentals are strong and the property market still presents many attractive opportunities. Second, property has been one of the most consistent, profitable and trusted asset classes in recent times and, third, British Pearl is not only making property investment accessible but giving people two different ways to invest in it through one platform. We know investors don’t always want all their money tied up in property equity investment, so we’re giving them the option to diversify their portfolio into debt within the same platform. My investment in British Pearl is my own personal vote of confidence.”
Funds raised will be used for working capital purposes and allocated as follows:
- 38% Software development
- 35% Sales & Marketing
- 10% Property Department
- 5% Professional services
- 12% Other costs
The funding round is set to close this winter.
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