Four BrickVest subsidiaries fall into administration

The fintech has offices in London, Berlin and Nice.

Four subsidiaries of BrickVest, the fintech which offers investment opportunities in commercial properties, have gone into administration.

BrickVest Limited, BrickVest Technology, BrickVest Sevices and BrickVest Talent are the businesses that have gone into administration, according to the administrator.

BrickVest employs more than 20 people. It is unclear if the businesses falling into administration will lead to job losses.

The administrator, ReSolve, said it was looking for possible suitors to buy the four subsidiaries.

Mark Supperstone, Managing Partner ReSolve, the administrator, said: "Whilst we are disappointed to see such a leading fintech player in this situation. We are determined to secure a sale of the business and its assets and deliver the best possible outcome for the creditors. We would encourage any interested parties to contact us as soon as possible."

BrickVest has other businesses including BrickVest IM and BrickVest Markets, which continue to trade.  The BrickVest website is also still live and investors can register on the platform.

BrickVest has offices in London, Nice and Berlin.

BrickVest was launched in 2014 by Emmanuel Lumineau and Thomas Schneider, who have a background in investment banking, real estate and fintech.

No details for the reason why the subsidiaries have fallen into administration were given.

BrickVest offers its users investment opportunities in a range of commercial properties, including student accommodation to collections of properties covering everything from retail to hospitality on the continent.

It has around 1,000 retail partners and 6,000 clients in Europe and the US. BrickVest was unavailable for comment.