A new property investment platform is set to launch in January, connecting investors with buy-to-let landlords.
Proptee will allow landlords to list properties on its platform. Investors can then purchase shares in properties in exchange for receiving a portion of the rent each month equal to their ownership.
The new platform, which is seeking authorisation from the Financial Conduct Authority as an appointed representative of an unnamed principal, also has plans to expand into loans and to offer an Innovative Finance ISA.
Chief executive Benedek Toth and chief technology officer Alexandru Rosianu co-founded the platform. They are engineers with years of experience in the fintech space.
“The mission of Proptee is to build the global property investing app,” Toth said.
“The reason why we developed Proptee is because property investing takes a lot of time and money to get into.
“We strongly believe there should be an easier way for everyone to get access to property investing.
“Property investing is lagging behind with technology but with us you can do so on your phone with an app. We have already seen exciting demand from people.
“Firstly, it will be residential properties in the UK and then are going to expand into commercial. We’re thinking of doing development loans and other property loans and expanding across Europe and the US.”
Toth said he hopes to launch in the UK by the end of January, with plans to expand across Europe and the US.
He said they already have a handful of landlords wanting to list properties on the platform, and over 1,200 potential investors signing up for updates.
Proptee will manage the properties and accept the rental payments, and will then distribute the funds between the landlord and the investors.
Investors can benefit from property price increases and can sell their shares in properties to other investors on the platform.
The Proptee team also consists of chief marketing officer Gabriel Konopnicki. Toth said Proptee also consults with professional property advisers when required.
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