Property investment marketplace CrowdProperty has reportedly launched its Australia-based division in order to support property development in the country.
David Ingram has been appointed as the Chief Executive for CrowdProperty’s business operations in Australia.
CrowdProperty has issued over £100 million in loans to UK-based property developers. As noted in the announcement, CrowdProperty Australia will be run as a separate or independent business unit (and won’t depend on CrowdProperty UK). The new venture reportedly has its own local investors and board of directors as well.
Mike Bristow, CrowdProperty UK CEO and CrowdProperty Australia board member, stated:
“The model that we have proven with great success in the UK is a perfect fit for the Australian market. We’re a company founded by people who have long experience developing property and working in the finance sector, built entirely around the customer.”
Ingram is notably the founder of Australia-based Fintech firm Split It. He will now be tasked with establishing a business that takes advantage of CrowdProperty UK’s technology stack and industry experience.
Ingram will be a part of a professional team including CrowdProperty CMO and Co-founder Ian Bell, COO and Director Tony Zulli. Ingram will also be working with Property Director Daniel He and Head of Marketing and Growth Jamie Millar.
Ingram remarked:
“We know that property developers can spend up to six months waiting to secure finance for a project, with lenders often changing the terms of the loan at the very last minute CrowdProperty can take that process down to a matter of a few weeks, with no hidden fees nor surprises that plague more traditional funding options. Our solution matches investor capital more directly to the developer using it to add value, enabling greater returns, meeting the major needs of both sides of the marketplace.”
As reported in March 2021, CrowdProperty had hired Rupert Lowe MRICS as Business Development Manager. Lowe joined alongside five other CrowdProperty appointments so far in 2021 and a total of 21 new appointments in the past 12 months since lockdown 1.0 began (as reported in March).
CrowdProperty stated, earlier this year, that significant growth in the team reflects strong origination, lending, and business growth through 2020, ever growing applications for property project finance. The investment platform says it is seeing over £250 million of funding applications received each month.