The platform has raised £850,000 in funding from RCP Holdings.
The platform has raised £850,000 in funding from RCP Holdings.
Property crowdfunder Property Moose has secured another round of venture capital funding.
The £850,000 in funding from Guernsey-based asset management firm RCP Holdings brings the total raised by the platform to over £2m.
Founded in 2013, the firm allows users to invest online in residential property and secured loans for as little as £10. With over 24,000 members from 130 countries, the latest round of funding will be used to develop new products and hire new employees.
“The continuing support of our early members and backers has allowed Property Moose to evolve into a much-loved investment portal,” said Andrew Gardiner, founder and CEO of Property Moose. “I believe our customer-centric vision is shared by our new investors, and we plan to continue to innovate by creating new investment products and market-leading investment technology.”
Property Moose completed its first crowdfunding round in 2013 and raised over 280 per cent of its goal on CrowdCube. Since then it has closed four other investment rounds.
The platform’s investors invest in residential property for a predetermined time but are able to exit their investment at any time on the secondary market, subject to liquidity. Property Moose manages and tenants listed properties and distributes the rental income in proportion to an investor’s share. Investors are able to approve tenants and vote on a property’s exit plan.
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