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Vesta looks to build on early success with £750k fundraise

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by Startacus Admin

PropTech startup Vesta, a marketplace for buying and selling residential investment properties with tenants in place, aims to build on early success, by fundraising £750k in investment through leading European equity crowdfunding platform Seedrs

Led by Chairman Bob Wigley, also Chairman of UK Finance, and CEO Russell Gould, previously operating in senior roles with several other successful scaled digital businesses, rental property marketplace Vesta is set apart as the first dedicated platform in the UK to offer buy-to-let properties for sale with tenants already in place.

Properties listed on Vesta are fully documented with descriptions, images, condition surveys, tenancy history and investment analysis.  Data-rooms are available for blocks VESTAand portfolios.

Launched in February 2018 and with a turnover of approximately £400,000 in the first 6 months, Vesta has sold over 105 properties (£23m) with a further 151 properties (£15.5m) sold STC and has had offers on £108m (1,000 beds) of student accommodation accepted. 

Over 500 properties have been on-boarded with over 2,500 properties in the pipeline. Vesta’s disruptive model has already attracted industry accolades and was awarded Buy-to-Let Newcomer of the Year 2018 by Property Wire.

Vesta provides an online estate agent service to landlords, property developers and institutions that want to sell direct and a portal service to estate agents and lettings agents who are selling tenanted properties on behalf of landlords.

The £750k Seedrs raise is part of a wider final seed raise of up to £5m. Monies raised will go towards further scaling the business growth through brand and marketing campaigns, expanding customer services, expansion of estate agency and analytical teams, product development, expansion of the in-house engineering team and extending the runway to a potential Series A fund raise and international expansion in 2019-2020. 

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Published on: 10th December 2018

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