A new property marketplace has launched in the UK and is looking to partner with a peer-to-peer lending platform that can provide finance for projects.
Brian Cartwright, who founded alternative property lender Nexa Finance, headed up the UK launch of Propetly, which enables people to buy and sell investment properties.
Propetly was founded by venture capitalist and property investor Sergey Kazachenko, who holds the chief executive role at the firm, and is owned by Scandinavian Capital Holdings.
The platform lists a range of investment opportunities, including land for development, property refurbishments and buy-to-let properties, which developers and landlords can purchase. Propetly uses estate agents and AI to provide detailed, clear summary reports on these investments.
Cartwright, who is consulting as managing director of Propetly UK, said the platform is developing more functionalities to make the journey of buying an investment property seamless.
This will include the addition of finance, legal and surveying products, as well as expanding into Sweden and Spain.
Carwright said the finance product will involve partnering with a P2P lending platform who can fund the purchase of the projects if required.
“Propetly is a very clear, AI driven marketplace which enables property investors to find and complete their property investments,” said Cartwright.
“The business is just a platform to list investment opportunities, but we have aspirations to add services to deliver an end-to-end journey. The whole point is to make the process of property investment simpler and open to everyone.
“The vision is to provide a solely online journey where a property investor can find an investment property and use AI and the calculation tool to fully understand the investment, then undertake a quantitative surveyor’s valuation with a third party, use a finance partner to fund it and a lawyer to conclude the process, all under 45 days.
“If someone wanted to purchase with cash or bridging or via the crowd with a P2P funder, the idea is to allow everyone to be able to access Propetly.”
Kazachenko added: “We have spent two years refining and developing this unique proposition that uses the latest AI technology to make Propetly the only platform for investors to source opportunities efficiently and for agents to sell investment properties effectively.”
Propetly will also provide its technology to UK estate agents and land sourcing agents.
Cartwright previously worked at ‘big three’ P2P platform RateSetter as head of business finance before lauching Nexa Finance last year.