Crowdfunding company Fellow Funders will soon launch a battery of new real estate projects to be funded up to €15 million by 2022. Moreover, the startup and Re-Aviva have closed two funding rounds for 1.7 million to be raised for house-flipping projects in Madrid.
Specifically, the capital raised will be invested in the purchase, refurbishment, and change of use of premises that will later be sold as housing in Embajadores and Cuzco neighborhoods in Madrid.
The House Flipping Delicias and Cuzco projects, from the entrepreneur Re-Aviva, have closed two funding rounds through Fellow Funders and have raised €870,000 and €840,000, respectively. More than 240 investors have contributed to these projects.
Thanks to the funding round for House Flipping Delicias, Re-Aviva will acquire premises on Embajadores street in Madrid, close to the Matadero cultural center. This project proposes the segregation and the property’s change of use, in which three apartments and 48 storage rooms will be built.
For House Flipping Cuzco, the entrepreneur will also acquire premises to refurbish and change its use for residential use before its sale. The project is close to Bravo Murillo and Orense streets. This development will allow it to be used as private housing, residential, tourist, and medium-stay rentals.
According to Ildefonso Muelas Martín, CEO of Re-Aviva, “Fellow Funders’ support has been extremely important for us. Thanks to them, we will have the chance to carry out projects that would otherwise have been very difficult for us.”.
Pablo Barriopedro, Senior Partner and head of the Fellow Funders Real Estate division, states, “House flipping is one of the latest trends in the real estate sector. Supporting initiatives such as Re-Aviva’s demonstrates our commitment to financing leading companies and puts us at the forefront of the sector.”
Source: OK Diario
Media that have echoed the news: EjePrime, Economía de Hoy, Murcia.com, Capital Riesgo, Emprendedores.