Daniel Gandesha, the founder of well-known PropTech firm Property Partner, has stepped down as the firm’s CEO.
Marshall King, formerly of SEO platform DeepCrawl, will step into the role, the company said in a press release today.
Gandesha will continue to be a member of the company’s board and will relocate to Ireland with his family at the end of April.
“I want to extend my thanks to our 10,000+ highly engaged community of property investors, and the dedicated team at Property Partner. Together we’ve acquired nearly 900 apartments and houses worth over £115m, providing homes to nearly 1,000 tenants, and completely changed the way the British public invests in its favourite asset.
“I’m a first-time founder and first-time CEO, and I’m proud of everything the Property Partner team has achieved over the last few years.
“I’m now really excited for Property Partner’s next phase of growth, and I know that Marshall brings the skills and experience required to take the business to a new level. I’ll be supporting him however I can.”
The Week in Tech: Zuckerberg on Holocaust deniers, Google’s record fine and more
Property Partner says 2017 was a year of ‘impressive’ performance, as the firm’s revenue allegedly grew by more than 100% in comparison to 2016.
King, the incoming CEO, spoke about his appointment: “My background spans property, data, financial services and online businesses, so to lead Property Partner is a perfect fit.
“Dan has done an outstanding job as Founder and CEO, bringing the business from nothing to a clear position as the UK’s leading property crowdfunding platform.
“UK property alone is a £7tn plus 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.
This online parking aggregator from Manchester just raised £4m
“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.”
Property Partner has raised more than £22m to date from investors including Index Ventures, Seedcamp and Octopus Ventures.
Jo Oliver, the investment director at Octopus Ventures, praised Gandesha’s trajectory: “Dan’s done a great job of starting and scaling this business. Building a global stock exchange for property investments is a tremendously exciting proposition, and we’re delighted to have attracted someone of Marshall’s calibre to lead the company into its next phase of growth.”