Australia-based property investment platform BrickX has secured A$9m ($7m) in a series A round backed by NAB Ventures, the corporate venturing arm of banking group National Australia Bank (NAB).
The contribution adds to an undisclosed amount of series A funding supplied by Reinventure, the venture capital firm sponsored by another of Australia’s ‘big four’ banks, Westpac, in November 2017.
Founded in 2014, BrickX has created a fractional investment platform that allows users to buy part of a property, paying as little as A$78 to own a share in one of 14 BrickX properties situated in the cities of Sydney, Melbourne and Adelaide.
BrickX has now raised a total of A$12.5m in funding according to Startup Daily, including an unspecified sum received from asset management firm BridgeLane in 2015.
Anthony Millet, chief executive of BrickX, said: “Housing affordability continues to be a priority for Australia’s banks, so the alignment between BrickX and NAB Ventures has a strong and unified purpose.”