Property Partner raises £15.9m

Property crowdfunding platform Property Partner has raised £15.9m as it looks to launch new products.

Leading the round are Octopus Ventures, an early backer of Property Partner, who are also behind Zoopla amongst others.

Another key investors, Index Ventures, is also participating in the round, along with a new investor, Dawn Capital.

An additional £3m of funding comes in the form of a venture debt facility being provided by Silicon Valley Bank.

The firm said it will use the money to “expand across the board,” with plans to launch a product for institutional investors, a shared ownership product and plans to expand overseas.

Founder and CEO Dan Gandesha said: “This significant investment is a huge vote of confidence in our business model, and our vision for making the property market better for everyone. These funds will help propel us towards our ultimate goal – that of being a global stock exchange for property.”

Neil Rimer of Index Ventures added: “Owning property in London has so far only been an option for wealthier residents.

“Property Partner changes this by allowing anyone to invest in attractive residential properties, earning rental income and participating in capital gains if the property appreciates.

“Property Partner operates a revolutionary property marketplace that will continue to simplify and open up property ownership to a larger base of people.

The platform has seen £24m invested through the platform since launch.

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