Crowdfunding success stories: easyProperty
easyJet’s latest venture took flight after securing £1.42m from almost 400 armchair investors
With the property technology (proptech) industry growing at an ever rapid pace, it was only a matter of time before leading brands decided to launch their own proptech platforms.
Enter easyJet’s Sir Stelios Haji-Ioannou who, in September 2014, raised an impressive £1.42m in an oversubscribed Crowdcube round for his new business easyProperty.
Founded by Haji-Ioannou and property entrepreneur Robert Ellice, easyProperty is an online estate agent which claims to offer major savings by enabling customers to choose the specific property services they need, such as insurance or viewings, and then pay a fixed price for that service without commission or extra charges.
This idea, and the high-profile backing of Haji-Ioannou, quickly caught investor attention when the crowdfunding campaign went live and saw a total of 396 investors back the round, with single investments of up to £200,000, for a share of 2.96% equity.
easyProperty intended to use the funding; £400,000 above target, to develop its offering with a view to expand across Europe.
CEO Ellice said the crowdfunding round was part of the business’ plan to “shake up the out-dated property industry”:
“By offering a stake in the company, easyProperty is giving landlords, property vendors and private investors a unique opportunity to be part of a market revolution.”