London-based BrickVest, a real estate investment platform, has announced a funding round of £7 million from German bank Berlin Hyp.
As part of the investment, BrickVest has inked a partnership with Berlin Hyp that will give the bank access to the platform. The proptech (property tech) startup was founded by Frenchman Emmanuel Lumineau and previously raised £2 million in March of this year before closing the round.
The Series A round is one of the largest for a proptech company to date, said Lumineau, while it had considered talks with several other banks before settling on a deal with Berlin Hyp.
“Our unique partnership with Berlin Hyp is transformative for BrickVest and we have a tremendous opportunity to expand our investor base of institutional sponsors and family offices,” he added.
“This additional funding will enable us to continue investing in our in-house technology and scaling our innovative platform in line with soaring levels of demand for accessible real estate investment.”
The investment is a means to further Berlin Hyp’s digitisation strategy, explained Sascha Klaus, chairman of the board at Berlin Hyp.
“Our decision was preceded by a thorough review of BrickVest's business model. The technology, products and the skills and experience of the management team convinced us to agree the partnership.”
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