Equity crowdfunding platform SyndicateRoom has completed an IPO on the London Stock Exchange of a crowdfunded business, Mill Residential REIT plc.
The residential Real Estate Investment Trust (REIT) offers private investors the opportunity to invest in a managed portfolio of residential buy-to-let properties without direct ownership.
The Mill Residential REIT raised more than £2m on SyndicateRoom last year, before its IPO on 23 December 2014 on the London Stock Exchange’s AIM.
“SyndicateRoom set out to be at the forefront of financial services innovation, and we’re proud of the highly significant contribution we have made to the equity crowdfunding concept already,” said Gonçalo de Vasconcelos, founder and CEO, SyndicateRoom.
“Our unique model offers the powerful advantages of having every funding round led by an experienced angel investor, with his or her own money in the game, ensuring a sensible valuation, the appropriate investor protections and the same deal and share class for all investors.
“This unique approach is clearly working as we are the first equity crowdfunding platform in the UK to fund a business that goes on to successfully float on a mainstream, liquid stock market, creating the first time ever equity crowdfunding has produced accessible returns for UK investors. These are hugely important milestones for crowdfunding, giving credence and proof to the value of this concept – for investors, businesses and the economy as well.”
