Renovata finds new CEO for leading property crowdfund platform, Property Partner
Property Partner, the London-based pioneer in property crowdfunding has appointed Marshall King as its new CEO, following an executive search led by Renovata. Launched in 2015, Property Partner offers an alternative route to access the property investment market. Investors are able to buy individual shares in properties across the UK, earning rental income each month. They can then sell shares on a secondary market to realise any uplift in value of the property. The business received £5.2M in Series A funding just 12 days after launch and has continued to impress business investors, raising a £15.9M Series B funding in 2015 (investors included Index Ventures, Octopus Ventures and Dawn Capital).
Marshall King’s appointment follows Founder Dan Gandesha’s decision to step down from the position as CEO. Dan will remain in the company and as a member of Property Partner’s board.
King cut his teeth working with Chief Executives as an Associate with Bain & Co. before taking an MBA at Insead and carving out a 20-year top-flight management career. He served at Director level at Dun & Bradstreet before founding the home services business, Improveline. When the company was successfully sold to Homeserve, King took the MD role for the combined £100M-revenue business. Group and cross-border Chief Executive roles followed with RFIB (private equity backed re-insurer), Searchflow (media, turnaround to a successful £75M sale) and Deepcrawl (search performance). King is also a sought-after Non-executive Director.
Reporting to the Board, King will take overall responsibility for setting and executing a strategy to keep Property Partner as the pre-eminent player in property crowdfunding. This will include delivering significant growth (currently running at 100% revenue increase YoY), developing the organisation’s talent and functions for continued growth, and refining the value proposition to thrive under economic, financial and regulatory change.
King says “UK property alone is a £7TN+ asset class that no serious investor can ignore, and has traditionally been difficult to access. Property Partner has shown that accessibility can be revolutionised through technology. I share Dan’s vision that Property Partner will become the trusted global property exchange for smart property investing in a wide range of sectors. I look forward to working with the talented Property Partner team to bring that vision into reality.”
About Property Partner
Property Partner is the simpler, safer way to invest in property. Investors buy shares in any of the many properties managed by the company, meaning they get their share of the rental income, and if they want to sell their share in the future, they get the benefit of increases in the property’s value. It’s easy to diversify, and they have full control over their investments.
A world class property team sources and manages the properties – including managing the tenant experience; investors simply reap the returns. Since launching in January 2015, over 10,000 investors have diversified their property portfolio with Property Partner, achieving a weighted average annualised total return across all properties of 7.2% (Jan 2015 – Dec 2017). Property Partner is regulated by the Financial Conduct Authority.