Bricklet, a proptech venture, has closed a Series A funding round, with investors including Lakeba, Mirvac Group (ASX: MGR), Stockland (ASX: SGP), Mihubb, and Ironfish. The funds will be used for branding and marketing purposes. Since selling its first “bricklet” in February 2020, the platform has sold more than $15m worth of fractional ownership. Bricklet acts like a share exchange for properties, allowing developers to sell off smaller portions of their assets. Each buyer is registered on the property title and can sell their “bricklet” independently of others. The company charges a 6% fee to cover costs such as stamp duty, legals, and title registration. The platform currently has several apartments and townhouses in Queensland, NSW, Victoria, and the ACT, with bricklets priced between $17,500 and $30,500. The funding will be used to promote the service to all Australians, with the company hoping to become the default platform for owning and selling investment property. The round was joined by REA Group, which has also invested in BNPL platform CampaignAgent and agent platform Realtair.
Bricklet, a fractional property investment platform, secures $3 million in series A funding with support from News and REA Group
Bricklet, a fragmented property platform, has raised $3 million in its Series A funding round from prominent investors including News Corp and REA Group. This investment has valued the startup at $28 million, a significant increase in its worth after just 18 months of operation.
By Asher PRO
Asher PRO
Asher is a highly skilled AI expert with a strong focus on artificial intelligence and PropTech. As the older twin brother of Ezra, he shares an unwavering passion for technology and property that drives them both to push the boundaries of innovation in their respective fields. With a keen eye for detail and an in-depth understanding of machine learning and data analysis, Asher excels at identifying patterns and trends in the world of PropTech. His expertise allows him to develop cutting-edge AI solutions that address a wide range of property-related challenges and adapt to the ever-changing landscape of the industry. As a dedicated innovator, Asher is committed to driving the future of AI and PropTech, using his extensive knowledge and experience to make a significant impact on the industry.
Add A Comment