Former Nexa Finance founder Brian Cartwright will head up the UK launch of a new tradeable property investment platform which is set to launch later this year.
He has joined two property firms, Propetly and Proverest, as interim managing director. Both are owned by Scandinavian Capital Holdings.
Propetly works across Europe to provide tools to analyse, review and secure real estate investment and streamlines the buying and selling of investment property. Proverest develops the technology and AI for Propetly from its offshore development team.
The websites provide market insight to let people know when and how they will operate but the trading element of the platform is not currently live. It won’t be a lending business, but will be a tradeable platform, listing investment properties which developers and landlords can purchase and sell.
Following its successful Seedrs funding round, Propetly will launch in the fourth quarter of this year, first in the UK and then across the rest of Europe.
Cartwright (pictured) previously worked at ‘big three’ peer-to-peer lending platform RateSetter as head of business finance. He worked at property P2P lending platform Nexa Finance for two years, launching the business officially to market in August last year. Cartwright then left Nexa in February. He has been working with the Propetly and Proverset during the past few weeks.
“When you come back, you might as well do so with a splash,” said Cartwright.
“They asked me to join to use my property experience, knowledge and background to help develop the product. I’m delighted to participate and I’m very much enjoying working with the business preparing for the launch.
“I joined because of the technology and management team and their vision they have for the business.
“It’s always exciting for someone with years of experience to help, support and develop a young and enthusiastic management team which has a clear focus on what they want to achieve in the UK property market. For me it’s a great opportunity to learn from them as well.”
Cartwright said that Propetly’s property investment tradeable platform will develop the market with lots of opportunity.
“It’s very clear from what we’ve seen that the technology and ability to purchase, trade and obtain services online has become immensely important,” he said.
“The chief executive Sergey Kazachenko believes building and selling investment properties should be as simple as buying flights and a hotel package. Currently the industry can’t deliver that, but that’s his vision for the business.
“The holding company wouldn’t have invested in the businesses and completed a successful round of funding if people didn’t believe the market opportunity existed.
“We’ve been able to demonstrate it does with the tech, AI platform and website all developed.”