Investors pour record £1.6bn into UK proptech
Investors have poured £1.6bn into Britain’s proptech companies this year, according to data from Pi Labs.
The record investment is four times more than the £348m the sector attracted last year, and 15 times higher than the £106m achieved five years ago in 2016.
The biggest fundraising in the sector this year was by Proportunity, which pulled in more than £100m in a mixture of debt and equity in October. The company claims to offer an equity loan to homebuyers, similar to the government’s Help to Buy scheme “but with fewer restrictions”.
Investors have poured £1.6bn into Britain’s proptech companies this year, according to data from Pi Labs.
The record investment is four times more than the £348m the sector attracted last year, and 15 times higher than the £106m achieved five years ago in 2016.
The biggest fundraising in the sector this year was by Proportunity, which pulled in more than £100m in a mixture of debt and equity in October. The company claims to offer an equity loan to homebuyers, similar to the government’s Help to Buy scheme “but with fewer restrictions”.
Plentific raised £73m in a fundraising round over the summer, with investors including Mubadala, the huge Abu Dhabi sovereign wealth fund.
“Proptech investment is growing significantly year-on-year, as the real estate sector is increasingly aware of the operational performance gaps that have been unaddressed for a number of years,” Faisal Butt, chief executive of Pi Labs, said.
“As the UK real estate sector wakes up to the changes required to reach net-zero targets, landlords, investors and occupiers are realising that technological adoption will play a crucial role in future-proofing assets and meeting sustainability pledges.”
The Times (£)
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