New crowdfunder gains full FCA authorisation

A new property crowdfunding platform is to launch after receiving full authorisation from the Financial Conduct Authority (FCA).

Propnology is looking to change the future of property investment by removing barriers to entry traditionally associated with the buy-to-let market and by using technology to deliver an innovative online experience.

It is also looking to take a different approach to competitors by choosing to steer away from self-sourcing or renovating properties within limited geographical areas, and building up a network of professional partnerships to offer investment opportunities throughout the UK.

“After a 9-month application process with the FCA, we are excited to be one of the first property crowdfunding platforms in the UK to be granted full authorisation,” said Co-Founder Owen Angel.

“We believe this will give our investors an increased level of confidence in this emerging sector.”

Paul Lamm, fellow Co-Founder, added that Propnology had established strategic partnerships with key players who understand their local markets and the value crowdfunding brings.

“Our strong relationships with developers, estate agents, sourcing and investment companies provide unique access to opportunities that would otherwise be inaccessible,” said Paul.

“Our partner network is being continually developed to ensure we offer a geographically diverse choice of investments, across different property classes, to meet the individual investment objectives of our investors.”

Investors can choose the amount they wish to invest, with minimum investment thresholds from as little as £500.

Once the property is generating rental income, they will receive 100% of the net income while profits will be distributed in the form of a dividend on a quarterly basis.

The platform officially launches on October 19th, and for more information click here.