The UK Islamic crowdfunding circle has just grown bigger with a new platform launched.
Javed Khan is nothing if not a real estate veteran. With about 25 years of experience in the sector from conception to completion of properties to investments in real estate, Khan has now moved on to the fintech sector with a property equity crowdfunding vehicle, PropTech Crowd.
About a year in the making, PropTech Crowd is now live and has completed its first fundraising campaign for a property in Northwest London and currently has two other projects listed. The firm joins a small but growing community of Shariah compliant real estate crowdfunding platforms in the UK: it is one of two that have obtained an official Shariah certification.
While new, the fintech start-up is aggressively looking to grow its business beyond its initial UK focus: it is currently looking to form a direct partnership with another Islamic platform, Ethis Crowd, based out of Singapore and is exploring expanding into Pakistan, Khan’s native country, as well as Saudi Arabia, a key Muslim market.
“We are starting with properties in the UK initially, but over the medium term, we want to apply our model globally,” Khan shares with IFN Fintech.
The start-up expects to grow its portfolio to 25 properties over the next six months; currently focusing on the residential sector, it will also be widening its scope to include commercial real estate.