Proptech business secures investment from global venture capital firm
A property fintech business, CurveBlock has agreed terms with global venture capitalist firm, Loyal VC.
The deal means the green real estate businesses that uses blockchain technology to make property investment open to everyone now has 80 unique investors, with this number growing weekly.
Loyal VC is the first venture capital business to back CurveBlock but joins 19 Angel investors, with the news described by the firm’s founder Gary Woodhead as “inevitable”.
Woodhead added: “This is fantastic news not just for us but for the whole Northern Powerhouse as it’s clear that venture capitalist firms are waking up to the opportunities which exist outside of the M25.”
He added that the benefit of working with Loyal VC went beyond just the capital, as the deal also brings with it access to its global expertise and network.
“What’s really positive for us is that this VC firm has a huge moral compass” he explains. “They look for start-ups which are tackling the United Nations’ development goals, which aligns with our beliefs about doing what’s right for the planet and for financial inclusion.”
The news of the deal comes as the business is gearing up for further growth and working towards the delivery of its platform, technology and compliance filings for various global regulators.
Woodhead adds: “The focus for now will be on the UK, Europe and the USA but eventually we’d like to make the platform available globally.”
The business is currently funding housing developments traditionally to ensure the growth and success of CurveBlock isn’t reliant on how quickly market adoption takes place. With Woodhead keen to emphasise that digitalisation takes time due to the need to educate the public about the opportunity.
He said: “We’ve concentrated on getting the housing delivery established traditionally, because not only does that help us with attracting investors but it also safeguards the business whilst public adoption and digitalisation takes place. We’re now ready to move forward and start disrupting the industry and showing the opportunity of blending fintech with real estate.”
Once built CurveBlock platform users will receive a dividend every time there is a liquidity event, for example when a house is sold.
To find out more about CurveBlock and how it is looking to transform the property sector and push the boundaries in the construction of energy positive homes visit curveblock.io.