2018 has kicked off with a bang! We’re thrilled to announce that NAB Ventures, National Australia Bank’s corporate venture capital arm, has invested in BrickX.
BrickX is a revolutionary new and affordable way for Australians to invest in residential property by buying ‘Bricks’ in a BrickX property. This unique approach, called fractional property investment, means people can invest in quality residential properties for as little as a few hundred dollars. Learn more about how BrickX works.
NAB Ventures and BrickX alignment
NAB Ventures – which supports businesses and entrepreneurs in their quest to build leading technology companies – saw the investment potential in democratising property ownership in the Australian market.
Housing affordability continues to be a priority for Australia’s banks, so the alignment between BrickX and NAB Ventures has a strong and unified purpose. BrickX is expanding rapidly and this high profile and experienced group of investors will help us in our goal to assist millions of Australians to get their foot onto the property ladder.
BrickX unique model was attractive to NAB Ventures
Todd Forest, Managing Director of NAB Ventures, said he was excited to invest in BrickX and help support a new way of approaching property ownership.
Forest said: “The aspiration for property ownership has long been the Australian dream, however buying a property often has challenges for many consumers – such as the rise in house prices in some areas and trying to save for a deposit.
“BrickX is disrupting this journey, in how it provides consumers with access to the property market and engages with them in creating a pathway to property ownership.
“NAB Ventures has scanned the market globally, to identify a range of companies and business models that attempt to solve for this, particularly as NAB looks to support its customers along the full home ownership journey.
“NAB Ventures chose BrickX as the leading opportunity, based on its unique business model, exceptional user experience and the opportunity to leverage the platform to innovate and help more Australians with their home ownership goals.”
BrickX now has over 9,000 members
BrickX now has over 9,000 active members invested in 14 properties across three capital cities. With properties in Sydney, Melbourne and Adelaide, members can easily access a variety of property investments.
This support from NAB Ventures should unlock even more opportunities for us at BrickX. This year, look out for:
- New properties being added to the BrickX platform
- The launch of new features aiming to help investors get more out of their investment
The announcement comes off the back of a huge year for BrickX. Within the last 12 months, BrickX has been awarded the Canstar Innovation Excellence Award, and received investment from Westpac’s Reinventure.
Read more about NAB Ventures investing in BrickX in the Sydney Morning Herald in the article NAB invests in real estate platform BrickX.
