LONDON, July 28, 2016 /PRNewswire/ --
Online platform enables investors to sidestep middlemen and invest directly into some of the world's finest real estate
Founders include property veterans Alex Michelin and Andrew Dunn of Finchatton and FinTech expert Uma Rajah
Brexit 'boosts' launch with fund two-thirds full in first three days
A London-based property website that allows ordinary investors to tap into the capital's super prime property market, and enjoy healthy returns usually reserved for banks and wealthy individuals, has raised nearly £700k in its first few days.
CapitalRise, a new FinTech platform, is the brainchild of the founders of Finchatton, the designer-developers behind more than £1bn worth of the world's best properties, and its first project aims to raise £1m towards the renovation of a £8.15m three-bedroom home in Eaton Square, Belgravia.
This first investment, which promises annual returns of 10 per cent on capital, has received £647,000 since it was officially launched on Monday. It is expected to be full by the end of the week.
The CEO Uma Rajah, who was technology product designer at Wonga, said she was 'delighted' at the "extraordinary" take up.
"Over the past few days, we have already raised over £647k and are delighted at the interest from investors," she said.
"We think Brexit has been good for us. Because of the volatile stock market, low yields from Bonds and the falling pound, there is even more demand for an investment that provides a fixed 10 per cent return and is secured by bricks and mortar."
Using CapitalRise (http://www.capitalrise.com), everyday investors, with as little as £1,000, can sidestep middlemen and invest directly into some of the finest real estate in the world.
It differs from other platforms in that it offers higher returns (typically from 10%-18% per year), and charges no fees.
Finchatton, founded by Alex Michelin and Andrew Dunn, has completed in excess of £1bn worth of development over more than 120 projects in London and abroad since it launched in 2001.
"For property developers, CapitalRise offers a new source of finance for their projects, at a lower cost and with more efficiency than has traditionally been available to them," said Michelin.
The first project is a listed home on prestigious Eaton Square, Belgravia, and aims to raise £1m for the refurbishment of the 2,400 sq. ft., three-bedroom apartment with 12ft high ceilings, its own grand entrance hall and a private garden.