The House Crowd is set to launch a new brand which would be primarily targeted at millennials. This recent move closely aligns with the mission of the peer-to-peer lending platform which is to simplify property investments for its clients. The crowdfunder also seeks to make property investment accessible to every individual.
The minimum investment that can ordinarily be saved through The House Crowd’s Auto-Invest is £1,000 and all subsequent investment transactions come in increments of £1,000. However, with the new brand dubbed Money Mog, any interested millennial will be able to invest in a property-backed ISA with a minimum of £50. As a financing source for the brand, the crowdfunder is setting up a £1m fundraising round.
Making the Property Investment Simpler
The property crowdfunder was founded by Suhail Nawaz and Frazer Fearnhead and began operation in 2012. Its investment products range from Innovative Finance ISA to property development investment and they are all secured by the UK property assets. The funds gotten from the new funding round will also be used for the development of its products range as a way to further democratize property investment.
While commenting on the new development, the CEO and co-founder of The House Crowd, Frazer Fearnheard reiterated the mission of the platform. He noted that their activities are targeted towards making property investment simpler and more accessible to anyone interested in building a better financial future. He added that each of its new property-backed products helps those who invest with them gain higher returns with no need to get involved with shares and stocks.
Fearnheard further noted that with this new funding round, the value of the business will be £28.9m, one which may be considered as being conservative when compared with that of its competitors. He, however, stated that even though the platform could rightly have attracted a higher valuation, they still had good reasons to stick with the £28.9m valuation. According to him, they decided to create an avenue for those who invest in the current round to share generously from the coming years of growth and innovation as the property crowdfunding space has strong potentials to get bigger over the coming years.
The House Crowd is a peer-to-peer lending platform regulated by the FCA. It has over 27,000 members and has successfully raised more than £112m since it began operation in 2012. Till date, it has provided funding to over 400 properties and has paid out on over 38,000 investments.