On 15th November 2017, we announced Westpac’s venture capital firm, Reinventure, has invested in the BRICKX business.
As you may know BRICKX launched here in Australia over a year ago with the ambition to give Australians an easy, affordable way to access property investing. So far we’ve helped over 7,800 people invest, empowering them to build diverse BRICKX portfolios across Sydney, Melbourne and Adelaide.
With the financial support from Reinventure, we plan to accelerate our plans for new property launches and grow our amazing team to deliver and support a world-class experience aligned to your goals. Look out for some big announcements in early 2018! In the meantime, BRICKX continues to grow daily and this really is with thanks to you.
Why did Reinventure invest in BRICKX?
Reinventure operates $100-million in funds and invests in businesses which they believe could be the future of the financial services industry. Reinventure Managing Partner Danny Gilligan said BRICKX represents the first complete solution which addresses the multiple challenges in the property financing industry that fractional ownership with improved liquidity options could solve.
“We’re impressed with BRICKX’s rapid pace of growth and the quality of the business, which has deservedly won a number of industry awards, including the Canstar Innovation Excellence Award,” Mr Gilligan said.
“We’re excited to support the BRICKX team in further developing a much needed product which is helping many Australians achieve their goals.”
Why are people buying Bricks?
There are many different reasons why people are using BRICKX. Here are some:
– First home buyers using Bricks to get investment exposure to the housing market. As the market moves, they are moving with it.
– Parents investing on behalf of their kids, taking a long term view in building a potential deposit to hand over in the future.
– Students and first time investors learning about financial products and the property market for the first time.
– General investors who can now consider residential property as an asset class alongside the more traditional classes such as cash and shares.
– Self managed super fund trustees taking a diversified approach to residential property without needing to buy a whole property.
What does this mean for you?
As a member of our community, we thought you’d appreciate being kept up to date with key BRICKX developments.
Please keep providing us with feedback on what you love, don’t love and how we can make BRICKX better. We are building this for you. You can email me directly via anthonym@brickx.com
Thank you for helping us achieve this milestone. We couldn’t have done it without you.
– Anthony Millet, CEO BRICKX
[Note: Westpac’s Reinventure has invested in the BRICKX business (the manager of BRICKX), and not in individual properties on BRICKX].
The opinions and beliefs expressed by the authors and forum participants as part of this communication do not necessarily reflect the opinions and beliefs of BrickX, BrickX Financial Services or other entities within the BrickX group.
