Crowdfunding deal completed in 35 minutes

A property listed on a residential crowdfunding platform managed to gain full funding in just over half an hour…

A £211,900 two-bed property in Byfleet, Surrey, which was listed on crowdfunding platform Property Partner, managed to reach its funding target in a record 35 minutes.

Investments were reported to have been made to the tune of £6,000 a minute.

“This latest fundraise breaks all our previous records. To fully fund in just over half an hour beat all our expectations,” said Dan Gandesha, CEO of Property Partner. 

“On average, our properties are reaching their funding targets in thirteen days, and as more people hear about the investment opportunities, that time is getting shorter and shorter. 

“The Byfleet property is a prime example of this.”

The property was posted online earlier this month on a Thursday at 3pm, and by 3.35pm all the shares in the flat had been bought by 126 investors.

The average investment stood at £1,700, with investors attracted to the listing from all across the UK.

Only 12 properties, with a combined total value of £3.5 million, have so far been listed on the platform, resulting in 2,000 investments being made through it so far.