Shojin Property Partner’s £10m Series A fundraise has gone live, offering early investors a discount.
The platform plans to raise £3.5m from investors on its platform, convert £1.7m through the future fund and £5m through private placement from large investments.
Jatin Ondhia (pictured), chief executive and co-founder of Shojin Property Partners, said the company is valued at £49m but retail investors can invest a minimum of £10,000 in the fundraise and will get a 10 per cent discount on the valuation until 15 September.
“Shojin operates a very profitable business model and has already achieved profitability,” the platform’s project pitch said.
“There is tremendous further growth potential, with ambitions to be the first UK unicorn in the proptech sector.
Ondhia said Shojin Property Partners will use the funds for operating costs, marketing spend, investor engagement, attracting more investors and recruiting three or four staff members for its origination team over the next nine months, ready for bringing in deals from abroad.
Speaking at last month’s P2P Investing Summit, a virtual event hosted by Peer2Peer Finance News and AngelNews, Ondhia said he saw the platform going public or being bought out in three to five years’ time.
The platform said it reached its first full year of profit in 2020.
The property investment platform, which offers both junior debt and equity opportunities, recorded a £234,000 profit on almost £1m in revenues in the year to 30 June 2020.
This is up from a £830,000 loss the previous year, according to accounts filed with Companies House, which was a significant improvement from a £2.64m loss in its 2018 accounts.