CapitalRise founders Andrew Dunn and Alex Michelin have upped their stake in the property investment platform following a new share allocation by the company.
Companies House documents this week show CapitalRise has issued new shares as part of incentive plans for key staff.
The adjustments mean a stake in the company held by Indian entrepreneur and venture capitalist Raakhe Kapoor Tandon has been reduced.
Tandon, the daughter of the founder of India’s fourth largest private bank, YES Bank, had led a £2m seed funding round for the peer-to-peer lender in May 2018.
She was subsequently added as a person of significant control – joining Dunn and Michelin – meaning she had shares and voting rights of between 25 and 50 per cent.
But Dunn and Michelin have now increased their holdings which has diluted Tandon’s share, making the pair are the only persons of significant control.
Uma Rajah, chief executive of CapitalRise, said there has been no change in the role or relationship with Tandon.
“The shareholding has just been very slightly diluted after the issuance of new shares to key employees and board members as part of normal business operations,” Rajah said.
Speaking at the time of the deal in 2018, Tandon said that “the size of the market opportunity and quality of the management team” gave her confidence in the platform.