Buy-To-Let portal handed boost ahead of seed round
Mr Investa, the Salford-based Buy-To-Let property marketplace, has secured £1m SEIS/EIS Approval for the start of its seed round led by London firm Seed Legals.
Given the current economic climate, Mr Investa said SEIS (seed enterprise investment scheme)/Eis (enterprise investment scheme) is an attractive scheme for investors to save on tax, while investing into high growth opportunity companies. SEIS/EIS offers investors between 30%-50% tax relief.
The raise is now open with a first seed round set at £1m, with a seed round valuation of £5m.
Ryan Hughes, Managing Director of Mr Investa, said: “Over the last three years we have been laying some solid foundations for the business and testing our MVP and now the time has come to start scaling our operation.
“We are delighted with the support from HMRC in providing us £1m SEIS/EIS Advance Assurance for our investors, making an exciting and disruptive investment even more attractive.”
Mr Investa’s raise comes after the continued growth of the business, as more landlords look to dispose of their buy-to-let properties/portfolios nationwide.
The need for a dedicated portal for buying and selling a buy-to-let property with the new changes to tenancies with No Fault Evictions and EPC’s needing to be upgraded by 2030 has never been more crucial, said Mr Hughes.
He added: “The lack of transparency in buy-to-let sector has allowed Mr Investa to thrive nationwide choosing to only deal with built properties whilst offering full detailed insight into the property condition by 3D mapping all units and providing full true financial performance allowing users to make an informed decision from the comfort of their own home or on the go.”
The need for professional asset disposal and portfolio rotation has never been higher with more than 25,000 units alone being sold last year in the buy-to-let sector and the number set to increase this year, Mr Investa said.
The company said private landlords are a significant pillar of the property sector, saying without them the already disappointing housing crisis would be disastrous if they didn’t have anywhere to dispose of their properties while allowing tenants to remain in the property.
