UK-based online real estate investment platform BrickVest has closed its series A round at £9m ($11.8m) after raising £7m in a second tranche led by mortgage-focused bank Berlin Hyp.
The round was oversubscribed and the newer funding follows a £2m first tranche that closed in March 2017 with participation from angel investor Jean Romain Lhomme and undisclosed additional backers.
Founded in 2014, BrickVest is an online crowd-investment marketplace for investors and deal sponsors that enables professional clients across Europe to invest in pre-vetted opportunities with a minimum commitment of €1,000 ($1,200).
The platform targets individuals with high net worth, and Berlin Hyp’s investment formed part of a strategic partnership between the companies that will help BrickVest grow its investor base and expand its deal catalogue.
BrickVest raised $1m in an April 2015 seed round backed by 20 investors, before Global Founders Capital, the venture capital vehicle for the founders of e-commerce group Rocket Internet, provided an undisclosed amount three months later.
Emmanuel Lumineau, CEO of BrickVest, said: “Both sponsors and investors continue to back our approach to democratise access to institutional real estate investments, in a highly secured and low-cost environment.
“This additional funding will enable us to continue investing in our in-house technology and scaling our innovative platform in line with soaring levels of demand for accessible real estate investment.”