FutureBricks plans to build ‘one stop property platform’
FutureBricks is looking to raise £500,000 as it plans to launch a “one stop platform” for housebuilders.
The peer-to-peer property lender is seeking angel investors to buy equity in the company, utilising the tax-efficient enterprise investment scheme.
The money raised will be used to build a platform offering a range of services to small- and medium-sized (SME) housebuilders.
FutureBricks also indicated that it will shift towards institutional funding.
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“The company is paving the way for technology to take the driver’s seat, elevating FutureBricks into a one-stop-platform for UK’s SME housebuilders,” Futurebricks said in an email to investors.
“This means providing integrated services across the value chain: from site sourcing to project viability assessment to financing property projects to expertise matchmaking to a project management tool.
“This also means that FutureBricks is moving from retail lending towards institutional lenders.”
It raised almost £500,000 in a Seedrs crowdfunding campaign in December 2020.
FutureBricks said 35 per cent of any money raised will be used to scale up its marketing efforts to build brand awareness and continue growing its lender base.
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The platform will also expand its commercial team “to uplift and expand revenue-generating streams.”
Another 35 per cent will be invested into the platform’s technology, enhancing its data analytics capabilities and launching new financial products such as the Innovative Finance ISA.
The remaining 30 per cent of the money raised will help to fund working capital and capital expenditure requirements, and onboard strategic new hires.