A Europe-wide property lending aggregator is set to launch later this year, with the aim of standardising data, as well as bringing transparency and trust to the alternative property lending sector.
Brikkapp will allow investors from all over Europe – including the UK – to browse peer-to-peer property lending opportunities, and to invest directly with multiple platforms.
“Currently in Europe there are more than 170 real estate crowdfunding platforms,” said Brikkapp’s chief executive and co-founder Jan Vecerka.
“What we do is we aggregate all the information about this space in one place, so our users can go to Brikkapp and see what platforms are out there, what is their track record, and view data about past investment opportunities, and statistics.”
Vecerka added that his aim is to work on the standardisation of this data.
“For example, if you would like to invest with one platform, you should be able to compare the investment with the offer that is on another platform,” he said.
“We really want to work on the standardisation of this data.
“The next step is that we want to standardise the risk metrics as well, which is really important because most platforms have their own risk metrics but it is very difficult to compare what is A++ on one platform to B or C risk level on another platform. It is almost impossible.”
Brikkapp is expected to have finalised its licencing requirements by the end of the summer. The platform has already entered into a number of partnerships with existing platforms across Europe, including Shojin Property Partners in the UK.
“We only want to cooperate with those platforms and partners which are regulated because we feel that offers a level of security to the investors,” Vecerka added.
“What we want to build is something like a framework for co-operation among the real estate crowdfunding platforms.
“We don’t want to be just an aggregator – we want to build a platform where we all can co-operate and really enable the market to grow by building this ecosystem to make the market more trustworthy.”