'Property investing for the people' platform draws €2.1m funding
- In PropTech
- 14:01, 17 September 2019
- 1249 Views
A proptech start-up which promises to demolish barriers to commercial real estate investing by making it possible for as little as around €1,000, has attracted €2.1 mln in fundraising.
Jasper – a digital investment platform - claims its service will open up commercial property by slashing the sums of capital required for entry.
With interest rates at rock bottom, commercial real estate investment offers returns far higher than available on the high street. Real estate also has an reputation as steady and predictable compared to the crypto-currency rollercoaster.
European asset manager M7 has led the latest round of fundraising. Icehouse Ventures, James Property Group and RCP have also invested in the platform - which is still in development.
When operational, Jasper will draw up offers for investors generated by its investment team, using their background at firms such as Blackstone and Goodman, the company said.
Jasper says it will allow investors to purchase fractional ownership in high-quality commercial properties using a fully digitised on-boarding, accreditation and subscription process.
The company also claims it will make property investing more liquid by providing a secondary market for investors to sell their equity to other investors. At the time of publishing, this aspect was yet to win regulatory approval.
Richard Croft, CEO at M7 Real Estate said: ‘As an investor and asset manager we recognise the value of Jasper’s technology-led marketplace and the potential impact it will have on the commercial property sector.
‘We’ve seen strong global demand for attractive yields and believe the Jasper platform will provide a significant new opportunity for these investors going forward. We love what the team at Jasper are building and are excited to be joining them on this journey.’
Jasper was founded by Mark Hurley, Mark Campbell and Oliver Shaw. Their background is in commercial real estate and entrepreneurship.
Mark Campbell, co-founder and chief information officer, said: ‘M7 is an established European business and their support shows that those at the forefront of the industry see a changing property investment environment led by technology.’
The company is expected to launch next year.