Proptech investment platform bucks Brexit doubts by relocating to UK

By Ryan Weeks on 27th November 2018

Property

In tandem to the move, Wealth Migrate is targeting a £2m raise on equity crowdfunding platform Seedrs.

Proptech investment platform bucks Brexit doubts by relocating to UK
Image source: https://goo.gl/vajpK7

Wealth Migrate is relocating its head office and holding company to the UK.

The property investment platform has channelled $79m into global real estate opportunities since launching in 2013, supporting $500m in transactions. It specialises in equity investment, taking either a piece of the capital stack or the entirety. The firm’s hope is to build a global marketplace. It currently boasts registered investors in 118 countries.

Wealth Migrate’s founder and CEO Scott Picken said that the chief lure of the UK market is its regulator, which he described as ‘one of the more forward-thinking regulators in the world’, particularly in the fields of fintech and crowdfunding.

The company will maintain tech teams in Cape Town and Shanghai, but its decision-making will now stem from London.  

To support the move, Wealth Migrate is staging a £2m fundraise on equity crowdfunding platform Seedrs, valuing the company at £16.8m. To date, it has raised money from 137 private investors, who have invested $12.7m in the company.

If successful, the proceeds of the Seedrs round will be used for further investment in the platform, digital products, distribution channels and origination.

Wealth Migrate has positioned the move as a contrarian play – subject-lining its release ‘fintech business is actually moving to the UK’, and noting the ‘doom and gloom’ surrounding Brexit.

Asked about this stance, Picken said he in fact sees Brexit as a long-term strategic advantage. “The business environment and even the regulatory environment is going to have to be pro-business,” he said.

 

Comments

Alternative Income Forum 2019

Join AltFi for its third annual Alternative Income Forum, exploring closed-ended funds (investment trusts) specialising in generating an income using alternative assets such as specialist finance, P2P lending, direct lending, asset leasing and more. Hear from the leading investors and fund managers in this rapidly growing market.

19th June 2019