Emmanuel Lumineau, CEO of Brickvest
The raise is one of the largest series A funding rounds the UK’s proptech sector has ever seen.
The series A funding round was led by investor Berlin Hyp, the real estate finance provider to Germany’s largest banking group, the Savings Banks Finance Group.
Berlin Hyp has acquired a minority stake in the London-based online real estate investment platform, and the two firms have formed strategic partnership.
The unique partnership with Europe’s third largest real estate lender will enable BrickVest to grow its investor base, execute its ambitious business growth plan and rapidly expand the company’s deal catalogue.
Berlin Hyp’s partnership with BrickVest provides it with access to an online, AIFM regulated real estate investment platform and an investor base that has grown to more than 3,500 HNWs and family office assets worth around €11bn.
As a result, Berlin Hyp will be able to advise its clients on a greater number of European real estate deals and to boost its offering across the equity, mezzanine and senior debt space.
BrickVest’s latest round of fundraising was significantly oversubscribed, following the company’s £2m first close in March 2017. Berlin Hyp may seek to extend their stake in BrickVest at a later date.
Emmanuel Lumineau, BrickVest CEO, said: “We’re delighted to have closed this series A fundraise with one of the largest amounts raised in the proptech sector.
“Our unique partnership with Berlin Hyp is transformative for BrickVest and we have a tremendous opportunity to expand our investor base of institutional sponsors and family offices.
“Both sponsors and investors continue to back our approach to democratise access to institutional real estate investments, in a highly secured and low-cost environment.
“This additional funding will enable us to continue investing in our in-house technology and scaling our innovative platform in line with soaring levels of demand for accessible real estate investment.”
Thomas Schneider, CIO of BrickVest, added: “We are excited to partner with a renowned German mortgage bank such as Berlin Hyp.
“Having conducted exploratory talks with several banks we felt that Berlin Hyp was the most digitally integrated firm and a perfect fit for BrickVest, which is actively promoting the transformation of the real estate financing sector.”