Propertybridges.com, a Peer to Peer lender to the property sector, has announced that it is bringing on further investment partnerships with Lagan Investments Ltd and Enterprise Ireland.
Lagan Investments Ltd are to become 10% equity shareholders in the business as well as supply up to 5 Million euros of additional lending capital in support of future new housing projects to the Property Bridges platform.
Since it’s official launch in September 2018, and with the initial support of NDRC (National Digital Research Centre) and closely followed by Enterprise Ireland (HPSU program), PropertyBridges.com and their community of lenders have already helped with finance for new home builds in Dublin, Kilkenny, Waterford and Limerick.
The plan is to lend in every county across the country to over a 100 plus new housing development projects in the next 3 years to the tune of 150 Million euros. Property Bridges will achieve this with the help of the Irish public, currently over 2,000 registered lenders with goal of 10,000 lenders in next three years . Aided by the new partnerships announced today with Lagan Investments and Enterprise Ireland and combined with our growing community of online lenders, we are now in a better position to fund developers and reach our housing development goals.
With the financial support and expert industry knowledge of its new investment partners, PropertyBridges.com aim to become the number one online marketplace for property development investment in Ireland over the next few years. They will achieve this by investing further in their technology, diversifying their investment offering, growing to 20 plus employees in the next 18 months and improving their in-house credit assessment, project monitoring and due diligence capabilities.
John Lagan, Lagan Investments said: “Lagan Investments have a strong track record in real estate and are delighted to partner with Property Bridges, which we consider to be a truly transformational business, helping to deliver much needed homes across Ireland. The highly experienced Property Bridges team have demonstrated a thorough understanding of the fundamentals of property development and lending, providing a simple solution which will help to address residential housing shortages nation-wide.”
Michael Browne, Senior Development Advisor, Enterprise Ireland said: “Property Bridges is a prime example of an Enterprise Ireland high potential start-up company with global ambition, developing innovative solutions to meet growing demand. Enterprise Ireland has worked closely with the Property Bridges since inception to develop a platform to address a gap in the market for housing development finance,while simultaneously aiding the creation of much needed homes. Through partnership with international investors, like Lagan Investments, the company has the potential to continue to successfully scale its operations in Ireland and beyond and we look forward to working closely with Property Bridges to optimise the company’s full growth potential.”
The general public have over 100 Billion euros in their deposit and savings accounts earning little or no interest. They can help solve the housing shortage nationwide while at the same time making a good return on their money.
Lenders can lend into each loan from as little as €500 up to €100,000 or more and will return on average approx. 8%+.
Property Bridges through its lenders (the general public and select finance institutions) will raise this money for small developers, medium sized construction firms and private individuals and companies looking to develop housing and match them with thousands of lenders from the ordinary citizens of Ireland.
The old system was dominated by banks, middle men, and ultra-wealthy individuals. It’s an inefficient opaque system, that benefits the intermediaries and one which ordinary investors have no access to. Our platform removes middle-men, and for the first time unlocks this attractive asset-class for both small investors and institutional investors alike.
With technology and the direct investment model, borrowers can access funding faster and at lower costs.