12 days of start-ups: Property Partner
The online trading exchange for the property market with £5.2m backing
Founder: Daniel Gandesha
Launched: January 2015
With London’s property prices continuing to skyrocket, chartered accountant Daniel Gandesha was struggling to buy a flat in Putney on a reasonable budget – and struck upon a novel idea: what if the property market was more like the stock market?
Launched in January 2015, Property Partner acts as a property crowdfunding platform and trading exchange, allowing individuals to collectively invest in buy-to-let properties. While owning a share, the investor receives an income stream in the form of a dividend and is able to sell it at any time at a price that reflects the value of the asset.
It seems this unique concept has found its audience with an impressive £15.8m of investment raised through the platform to date and £2.6m in shares traded on the secondary market. Property Partner simply charges a one-off 2% fee on any investment made, with no fee for selling shares and investors keeping 100% of their capital returns.
With a network of 5,133 investors – some of whom are building portfolios of over £300,000 – the nascent platform has already seen significant growth. Following an impressive £5.2m investment from Index Ventures earlier this year, and with ambitious plans for the next 12 months, we expect big things from Property Partner in 2016.