Property crowdfunding business turns to crowdfunding for itself as it bids to appeal to millennials

The House Crowd, which raises money for property projects via crowd-funding, is itself crowd-funding.

It is raising £750,000 in exchange for a 2.53% stake in the company, which it says is worth almost £29m.

The company was started in 2012 by Frazer Fearnhead, and claims to have 27,560 registered members and to have raised over £112m.

It started out as buying properties that could be let out, and in which investors could buy small chunks.

It has since evolved to offer a range of products, including peer to peer loans to people typically wanting to refurbish and sell a property.

Investors can also chip in to fund new homes development projects.

With its latest funding, The House Crowd aims to launch a new brand to appeal to millennials and launch a new mobile app called Money Mog.

It has already raised some £55,000 although launching its campaign only yesterday.

Meanwhile, property renting platform Inadash has almost reached its crowd-funding target.

By yesterday afternoon it was 97% of the way to hitting £350,000.

Inadash works with both renters and letting agents, who pay a monthly subscription fee.

Its chairman is industry veteran Michael Stoop.

Both campaigns are on Seedrs.

More top news stories

x

Email the story to a friend

Leave a reply

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.