Brickbro crowdfunding starts investment round to enter Madrid

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The proptech expects to close 50 operations during 2019 in Barcelona, ​​with a transacted volume of 7.5 million euros and a turnover of more than 3 million euros.

Become a global company is Brickbro's ambition. A digital real estate crowdfunding platform, Brickbro was promoted just a year ago during the wave of proptechs in Spain. The company is considering opening a financing round before summer to accelerate its growth, explained Guillermo Preckler, co-founder and CEO of Brickbro, to EjePrime.

The company, which operates in Barcelona, ​​currently does not set dates or amounts, but Preckler confirms that the opening of the capital is the next step of the proptech to "land in Madrid as early as the second quarter of 2019."

The proptech, which has the Demium Startups business incubator as its main investment partner, since its creation in July 2018, has already closed 11 operations in Barcelona, ​​and its internationalization plan is also planned before 2020.

After Barcelona and Madrid, according to Guillermo Preckler the next step will be the international market: "it will depend on how much we want to accelerate the business, but the objective is to replicate the model that we know is profitable in Barcelona in other markets, also outside of Spain, where March we will begin to analyze in which cities it is viable. "

Brickbro is a digital real estate financing platform. The company specializes in investments in assets of offices or commercial premises in disuse for its reform in loft or study and sale. The minimum contribution is fifty euros. The return is around 14%, according to Preckler.

It is a niche business that, according to Preckler, "makes a lot of sense in cities that are already saturated, such as Madrid or Barcelona."

Since July, Brickbro has bought eleven properties in the Catalan capital. Four of the operations were financed entirely through its platform, which already has more than 2,000 registered users. The operations were closed, according to the company, in an average time of 25 hours. Of the eleven operations underway, last week, Brickbro put ten lofts on sale in a lot valued at 1.57 million euros.

For now, in Barcelona, ​​the company's forecast is to close 2019 with fifty properties purchased, of which between twenty and thirty will be sold before the end of the year. That, according to company data, represents closing the year with a transaction volume of 7.5 million euros and more than three million euros in turnover.

Apart from and parallel to internationalization, the proptech does not rule out changing products either. According to Preckler "right now the opportunity is the loft" although he does not rule out entering the market of residential assets in vertical properties or in industrial sites: "our investors demand that we must always be the most attentive when detecting the best real estate opportunities".

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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