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.”
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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.
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“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.”