Shojin readies for India and UAE expansion
Shojin Property Partners is close to expanding into India and the UAE, with agreements set to be finalised in the next few weeks.
Jatin Ondhia, chief executive of the property investment platform, told Peer2Peer Finance News that Shojin will be able to distribute its products through local partnerships once the deals are done.
These will be set up as joint ventures with groups that have local expertise, which will adopt the Shojin brand.
Read more: Shojin introduces first non-UK property loan
Eventually the goal is to fund local projects.
Following India and the UAE, Ondhia said he is looking at Israel, South Africa and Canada next.
As the business grows, Shojin will also be increasing its headcount, Ondhia said.
“We’re very much ramping up the team, adding to our origination team, sales and marketing, we are actively hiring this year and looking to expand the size of the team but very selectively,” he said. “We don’t want to just hire rapidly a bunch of people, we want to make sure we get the right people. Slow and steady growth is what we’re planning.”
Read more: Shojin predicts price growth and shift to green properties for 2022
Last week, Shojin announced that it had secured a £5m underwriting facility ahead of closing its Series A fundraise. The facility can be increased to £10m as dealflow grows, the firm said.
Ondhia said that without the £5m commitment, which came from a London-based family office, part of the Series A funds would have been used for underwriting.
Shojin enables investor access to the real estate market on a fractional basis from as little as £5,000. The firm, founded in 2009, moved into profitability in 2020 and is on track to generate almost £2m in revenue in the year to June 2022.