Property platforms prove popular with the crowd as projects overfund

Property investment platforms are set for a crowdfunding boost, with two projects currently overfunding.

EstateGuru and Brickowner have already exceeded their fundraising targets on Seedrs despite only launching projects earlier this month.

Estonia-based EstateGuru, which facilitates peer-to-peer development loans across continental Europe, launched a Seedrs campaign at the start of May to raise €349,950 (£311,312) and is now 190 per cent above target.

Its biggest investment so far is £15,000 from a regulatory consultancy in Estonia called GMA Consult Group.

There are still 18 days left to fund the project.

It plans to use the money to expand its geographic reach, to build an institutional investor network and boost its technology and product offering.

Read more: EstateGuru calls for more transparency from European P2P counterparts

Meanwhile, property investment platform Brickowner also launched its own campaign earlier this month to raise £150,000 and is 114 per cent above target with 32 days to go.

Its biggest pledge so far is £109,110 from an anonymous donor.

Funds raised will be used for senior hires, technology and product improvements and a new marketing strategy.

Brickowner, which launched in 2017, has raised £4.9m from five previous funding rounds.

It raised more than £200,000 in a crowdfunding round on Seedrs in 2018, exceeding its £150,000 target.