- The fragmented property platform has attracted new investors recently
- The new investors include News Corporation, REA Group and Ironfish
- Bricklet looks to disrupt the traditional property industry
As first reported in Anthill Magazine, fragmented property platform Bricklet has made further strides against the traditional property investment sector, attracting new investors for its Series A capital raise.
Original investors Lakeba, Mirvac Group, Stockland, and Mihubb will now be joined by News Corporation, REA Group, and Ironfish.
The Property Tribune published a story earlier this month on how fractional and fragmented property investment works, which included Bricklet being discussed as one of the major players in this fairly new industry.
As it is becoming harder and harder to buy a house, fractional and fragmented property investment looks to provide a potential way for young people to get their foot in the door of property-ownership without having to fork out large sums of money for a deposit.
Bricklet is a fragmented property investment platform, meaning that all investors are considered true owners of the property (each being named on the land title as tenants in common).
This is slightly different from other platforms in the industry (such as BrickX and DomaCom), which provide services for fractional property investment, involving a company or trust owning the property with the investors owning shares of that company or trust.
Bricklet plans to use its Series A capital raise to take the platform to the next phase of growth, investing heavily in brand and marketing activity.
CEO of Bricklet, Darren Younger said the company has been refining the platform to align with how Australians want to buy, sell and own property.
“This has included making bricklets accessible to all Australians, launching a buy now pay later option, and partnering with developers to bring high-quality property onto the platform.”