Press Release
Bricktrade Announces Closure of Successful Seed Raise, Led by Launchpool Labs and Alphabit Fund
LONDON — December 16, 2021 — Bricktrade, the UK’s first construction financing platform accepting cryptocurrencies for property investments, have announced the successful closure and oversubscription of their seed fundraising round, led by Launchpool Labs and Alphabit Fund.
Bricktrade connects property developers with investors on a blockchain-powered real estate marketplace, allowing everyone to own a part of a property without any loans, deposits, and the standard paperwork. The company does this by fractionalising assets and allowing people to invest as little as £500.
The founder of Bricktrade and a pioneer in the London property market, Guv Kang, commented on this announcement, stating: “We’re absolutely delighted to say we’ve now finished our seed fundraising, which has put the Bricktrade project in a very strong position. From here we’ll seek to keep up the great momentum we have behind us, and achieve the exceptionally bright future which we know Bricktrade has in store”.
Through the Bricktrade platform, a property developer will be able to fractionalise their land equity through tokenisation, which allows Bricktrade to supply asset-backed tokens to investors. Through this mutually beneficial arrangement, the developers will receive access to much needed funding, and investors will receive access to previously inaccessible institutional-grade real estate investment opportunities.
Bricktrade founder Guv Kang commented on the project’s value proposition, stating:
“There is a shortage of housing and it is too expensive. At the same time, savers with money in the Bank are earning 0.01% in interest — this is wrong, so we created Bricktrade to provide good returns for savers and to provide much-needed liquidity to property developers”
The project has seen considerable demand from investors so far, with their seed round being oversubscribed, and high-profile partnerships secured with leading egalitarian investment provider and project incubator LaunchPool Labs, as well as global entrepreneurial network TechStars.
To put demand in perspective, Bricktrade already has over 500 investors waiting to be allocated their BRKT token; the ecosystem’s utility token which powers the entire marketplace.
The Bricktade team aims to take advantage of the largely unexplored decentralised construction financing business model, and gives retail investors the previously inaccessible opportunity to own a fraction of properties coming on the market, and invest in property development projects.
Bricktrade is on a mission to drastically lower barriers to entry in real estate investing, and facilitate success for all parties involved in the property development and construction finance marketplaces. Their team has over 100 years of combined experience in construction and property finance combined, and are working to facilitate mass adoption of blockchain technology, and to make owning property hassle-free offering asset backed investing at scale.
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About BrickTrade
Bricktrade lets investors own part of a property without the usual hassle of deposits, mortgages, credit checks, and mountains of paperwork. Investors can get started buying fractionalized shares of properties with as little as £500, thanks to its cutting-edge crowdfunding platform, which leverages the power of the crowd to provide developers with a fast and efficient way to raise funds for development projects. This allows users to directly invest in development projects while earning bank-beating interest rates.
About Launchpool Labs
Launchpool Labs offers a three-month incubation program for very early-stage companies, with the purpose of building together their MVP (minimum viable product) and MVC (minimum viable community). Each team is provided the assistance of numerous cross-industry partners and advisors. Four cohorts per year, 12 to 24 projects incubated.
