Vesta will look to raise £750,000 to further build and raise awareness of its online marketplace, which allows landlords to buy and sell residential investment property with tenants in place.

The funding is part of a wider final seed raise of up to £5m.

Money raised will go towards further scaling the business growth through brand and marketing campaigns, expanding customer services, its estate agency, in-house engineering and analytical teams, product development and extending the runway to a potential Series A fund raise and international expansion in 2019/20.

“As a relatively new proptech company gaining good traction in the UK, we were attracted to the Seedrs equity crowdfunding platform because it allows both retail and institutional investors to invest in the company’s on-going success, building a broader shareholder and customer base,” said Russell Gould, CEO at Vesta (pictured above).

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“The popularity of the Vesta marketplace among landlords and investors since our launch earlier in the year is a strong indicator that we hold a unique position in the real estate industry and proptech space.

“The Seedrs capital raise of £750,000 will contribute to building out our product to provide more individual and institutional landlords with an efficient and cost-effective solution for buying and selling rental property and at the same time supporting tenants by allowing them to remain in their homes.”

Russell said that Vesta was on the radar of international groups and it had already been approached by two parties to explore licence and partnership opportunities in both North America and Asia Pacific.

“While slightly early for our immediate product roadmap, this validates demand for a global investment property marketplace and supports our intention to build a multi-regional business of significant scale.”