Shojin Property Partners raises £3m to fund global expansion plans
Shojin Property Partners has closed a £3m funding round and aims to raise another £2m to fund its global expansion plans.
The peer-to-peer property lending platform has raised £3m as the first tranche of a series A funding round at a valuation of £49m, and has just launched the next tranche of funding to raise a further £2m at a £55m valuation.
Shojin Property Partners said that as it ramps up its global expansion plans, the funding will be used to grow its operations with new hires in deal origination, marketing, technology and risk management.
The platform added the additional £2m corporate raise will primarily be invested into the company’s data-driven marketing campaigns as it targets more global investments.
In February, Shojin Property Partners raised over £850,000 to acquire 20 apartments in its first international project outside of the UK, and said that it was working on agreements to distribute products through local partnerships in India and the UAE.
The funding round raise sits alongside a £5m underwriting facility provided by a London-based family office with a provision to increase it to £10m. The platform said this “effectively guarantees” funding for mid-market real estate investment opportunities before they go live to investors.
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“As a business, we’re at a very exciting inflection point,” said Jatin Ondhia (pictured), chief executive of Shojin Property Partners.
“Having made our first investment outside of the UK and with substantial resources in place, we’re ready to begin our scaleup journey.
“One of the challenges ‘concept’ start-ups face in the UK is that investors still undervalue high-potential businesses, insisting on profitability which in turn can stunt growth potential.
“Thankfully, Shojin is already a profitable business which is why we have made the decision to hire for growth while allocating £1.7m of the corporate raise to direct response digital marketing as we continue our growth.”