Online property investment service Holiday Crowd has closed a £290,000 Seed round from a series of Angel investors.
Angels in the round included Clive Sykes, founder and chairman of Sykes Cottages, and Apadmi Ventures, the venture arm of Apadmi Limited.
Launched in March, the startup enables investors to build a portfolio of shares in holiday rental market properties in amounts upwards of £1,000.
Alistair Malins, CEO of Holiday Crowd, spoke about the funding: “This investment puts us in a fantastic position to accelerate our growth by investing in the platform and building a portfolio of hand-picked properties for investment.
“We have ambitious plans for this large and fast-growing market and are looking forward to a successful year ahead of us,” added the CEO.
Sykes spoke about his decision to back the startup: “Investment in holiday property has traditionally been limited to those with significant resources at their disposal.
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“Holiday Crowd changes this, opening up the market to new investors and using the latest technology to make the whole process more efficient. I’m a proud backer of this innovative company and look forward to seeing it grow in the coming months and years,” he highlighted.
The company, which allows users to invest in properties all over Europe, will use the funds to continue developing its platform.
Rick Parry, founder of the Premier League and Holiday Crowd’s senior advisor he hoped investors would be attracted to the resilience of holiday property as an asset class.
“A falling pound and increasing tourism to the UK are also contributing to the success of the holiday lettings market providing an excellent opportunity for investors,” Parry concluded.
The startup was founded in 2015 and is based in London.