On a mission to bring property investment to the masses
- App now live (iOS and Android) with waiting list of over 8,000
- Over £6.8 million of property already bought via the platform
- A scale-up with a 50+ team and >£5.5m revenue in 2020*
- Making a £1.7 trillion asset class accessible to everyone
Please note that this is not an investment in The Property Hub REIT. Read on for full details of the investment opportunity.
Residential property is one of the UK’s most popular investments – despite it being hugely expensive and a lot of hassle to get into.
We’ve been serving property investors for 9 years, and we’re sick of property being stuck in the past. You can invest in shares or crypto from your phone, in minutes…and now, for the first time, you can do the same – with Portfolio.
Portfolio captures the full property investment experience, with none of the hassle and a fraction of the cash needed. Investors can enjoy in-app video updates and property tours – and have the potential to benefit from capital growth and rental income, just like owning property directly.
With our team of 50+ and aided by our extensive industry track record, we've already launched the app and established a fund that’s bought over £8m of property. Now, your investment will help us on our mission to turn Portfolio into a household name and bring property investment to the masses.
Substantial accomplishments to date
The Portfolio brand was launched in November 2021 and we’ve already achieved a huge amount:
· Established the fund (a Real Estate Investment Trust) that sits behind the app and holds the property assets
· Built and launched the Portfolio app (iOS and Android), and brought in more than £6.8m from investors
· Built a waiting list of over 8,000 users
· Advised the fund in the purchase of 18 properties in its first year, including one of Europe’s highest penthouses!
· Become an approved borrower with a major lender
The Portfolio brand is part of a group that also includes the educational and property sourcing businesses branded as Property Hub. By backing this campaign, you’re investing in the overall group – meaning you get a stake not just in Portfolio, but also our other well-established lines of business.
Property Hub has existed as an educational brand serving property investors since 2013.
In that time we’ve:
· Built an online community of more than 65,000
· Grown The Property Podcast to 270,000+ monthly downloads (>9.4m lifetime listens)
· Published multiple best-selling books with more than 1,500 five-star reviews
· Established a YouTube channel with over 29,000 subscribers
We also help clients to build buy-to-let portfolios by providing strategic advice and sourcing discounted deals directly from developers:
· More than 1,500 lifetime transactions arranged
· £69m of property sourced and sold in 2021
· Transacted with 3 FTSE-listed house-builders
*Based on unaudited management accounts
The group has three principal sources of revenue:
1: Recurring fund management fees, based on percentage of the net assets of the fund.
2: Transaction fees payable on properties acquired by the fund.
3: Fees generated by Property Hub Invest for sourcing and transacting on buy-to-let properties for clients.
These revenue sources are already established, and the first two are expected to scale as the fund grows.
Use of proceeds
Everything we’ve achieved so far has been funded without any external equity investment. Now we’ve proven the concept, this crowdfunding round will let us rapidly bring Portfolio to the mass market.
To achieve this, we’ll be allocating the funds raised to:
· Marketing Portfolio to the mainstream. Portfolio’s current user-base has come mainly from the large and enthusiastic audience we’ve built up organically. With funds for paid media campaigns, we can expose Portfolio to potentially millions of new investors.
· Improving our technology. We’ll continue developing the app to make the user experience even more compelling and capture the excitement of being a hands-on property investor.
· Strengthening the team. We already have a team of 50+ across our London and Manchester offices, with deep expertise across property, finance and technology. The funds raised will allow us to strengthen the team even further, bringing in the expertise that will take Portfolio to the next level.
The company currently has 3 classes of shares; A Shares, B Shares and C shares pre-raise. The Company will be issuing a new class of shares, Ordinary Shares, as part of this round.
All investors in this round, including Seedrs investors, will be receiving Ordinary shares. Ordinary shares shall rank equally with A, B and C shares in terms of voting, capital on winding up and dividends, the only difference being that A, B and C shares entitle the Founders to receive special preferential dividends in lieu of salary (the amount of which is capped at market salary rates).
Sale of Subsidiary Business:
The Company is currently in the process of selling one of the Subsidiary Companies in the group, Property Hub Lets Limited (PHLL), as part of a strategic realignment of the business. PHLL provided property management services for landlords.
The Company is currently undergoing a re-organisation as part of a strategic realignment of the business. This re-organisation is in progress, and will be completed prior to the closing of the round.
Investors in this round are investing into and will become shareholders of Portfolio Group Holdings Limited, Co. No.13997249. This is the Top Co. for the group with no trading activities.
Within the group there is another holding company, as well as 6 wholly-owned subsidiary limited companies, and one subsidiary LLP. The group structure is as follows:
- Property Hub Holdings Limited: The holding co. for the group which sits below Portfolio Group Holdings Limited (PGHL). 100% of shares are held by PGHL.
- Property Hub Advisors Limited: Provides investment advisory and consultancy services to property investment fund, Property Hub REIT Plc.
- Property Hub Subco Limited: Introducer Appointed Representative (IAR) of the fund manager of Property Hub REIT Plc, mainly focusing on distributing financial promotions via various platforms and media under the applicable regulations.
- Portfolio Technologies Ltd: Develop and maintain the investment application, which enable investors to buy shares in the REIT and potentially more investment products in future.
- Property Hub Forum Limited: Provide educational materials to property investors via various channels such as magazine, podcasts. It also acts as a central cost centre for group cost.
- Property Hub Invest Limited: Provide investment sourcing, consultancy, and conveyancing management services to investors.
- Olive Property Construction Limited: Property development company which is no longer the strategic focus of the business.
- Property Hub Advisory LLP: General partner of Property Hub No.1 LP, which is a subsidiary of the Property Hub REIT Plc, which invests in residential properties in UK.
Property Hub Invest Limited, one of the subsidiary Companies in the group, has the following outstanding loans:
1. £250,000 Coronavirus Business Interruption Loan (CBILS) loan from Funding Circle at an interest rate of 13.1% per annum. The loan was entered into in June 2020, and is to be repaid by June 2025.
2. £250,000 Coronavirus Business Interruption Loan (CBILS) loan from Iwoca at an interest rate of 12.69% per annum. The loan was entered into in March 2021, and is to be repaid by March 2024.
The funds raised from this investment round will not be used to repay these loans.
One of the Subsidiary Companies, Property Hub Invest Ltd, has two overdraft facilities at its disposal:
1. £50,000 overdraft facility with Natwest.
2. £100,000 overdraft facility with Barclays, with a charge over the subsidiary Company's assets.
As it stands, the company is not currently using either overdraft facility.
Rob Dix also owns a personal website called 'Property Geek' which provides advice and guidance on Property investing.
This site pre-dates his involvement with Property Hub, and occupies less than 1 hour per week of his time. Property Geek is not revenue generating.
Please note that any discounts, rewards and/or offers listed by a company in its campaign are subject to the terms and conditions applied by that company. It is the company’s responsibility to honour such discounts, rewards and/or offers and Seedrs does not take any responsibility for them.
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