Announced today, Marshall King (pictured, left) will be taking over as chief executive officer of property lending platform Property Partner. According to the platform King will be joining from SEO platform DeepCrawl, bringing with him experience of growing VC-backed firms from the fintech, property and tech sectors.
As such, founder Daniel Gandesha (pictured, right) will be stepping down from his CEO position as he prepares to relocate to Ireland with his family at the end of this month. He will, however, remain both in the company and on Property Partner’s board.
“I’m a first-time Founder and first-time CEO, and I’m proud of everything the Property Partner team has achieved over the last few years,” said Gandesha in a statement.
“I’m now really excited for Property Partner’s next phase of growth, and I know that Marshall brings the skills and experience required to take the business to a new level. I’ll be supporting him however I can.”
The change in leadership is hoped to position Property Partner for its next phase of growth, following an impressive few years which saw assets under management (AUM) grow over 75 per cent, and revenue grow more than 100 per cent in 2017 alone. Its investor community now numbers around 10,000, which together with Property Partner has acquired nearly 900 apartments and houses worth over £115m.
Incoming CEO Marshall King commented: “My background spans property, data, financial services and online businesses, so to lead Property Partner is a perfect fit. Dan has done an outstanding job as Founder and CEO, bringing the business from nothing to a clear position as the UK's leading property crowdfunding platform.
“UK property alone is a £7tn plus asset class that no serious investor can ignore, and has traditionally been difficult to access. Property Partner has shown that accessibility can be revolutionised through technology.
“I share Dan’s vision that Property Partner will become the trusted global property exchange for smart property investing in a wide range of sectors. I look forward to working with the talented Property Partner team to bring that vision into reality.”
The platform opened up access to commercial property for investors in January this year, enabling non-institutional investors to buy and sell shares in a range of commercial properties with the ability to target individual assets and sub-sectors, as well as being able to list shares for sale at any time.