SmartCrowd, an innovative real estate crowdfunding platform, which allows individual investors to take a “fractional” share in a rental property, has raised $3M in a Bridge round.
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Dubai’s digital Real Estate Investment Platform SmartCrowd has closed a $3M Bridge round led by Mad’a Investment Company. The round also saw participation from TriCap Investments and was joined by Amaana Capital, the venture capital arm of US-based NRD Capital, along with prominent angel investors in the region.
The FinTech sector was the most prominent industry in Q1’22 driving almost 30% of total transactions and over 25% of all capital deployed across EVMs, as seen in our Fintech Q1 2022 Venture Investment Report. In MENA, the UAE reigned as the leading FinTech hub both in number of deals and VC investment deployed in the sector. MENA’s top 3 geographies in Q1’22 accounted for more than 80% of all capital deployed in the sector. The sector has been expanding its portfolio by offering solutions like trading platforms with erad, all-in-one spend management platform for SME’s with Pemo, diverse buy-now-pay-later options with Cashew Payments, banking-as-a-service with NymCard, and is now traversing the Real Estate industry too with SmartCrowd. Having been the hero sector across EVMs in the first quarter, Fintech continues to garner regional and international investor interest as we close the first half of the year.
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SmartCrowd is the MENA’s real estate investments platform and a pioneer in bringing alternative investments to the mass market. Abdullah A. Al Othaim, CEO of Mad’a investment, shared his thoughts: “As part of our strategy to invest in companies that add exceptional value through their innovative ideas to the Kingdom and the region, SmartCrowd, MENA’s first regulated real estate investment platform, will open up new investment channels to individuals looking for relatively safe methods for passive income”
Commenting on the investment, Aziz Hashim, Managing Partner at Amaana Capital, said, “SmartCrowd is leading the charge in fractional ownership of real assets in the region by providing its customers with high-quality and pre-vetted investment opportunities. We couldn’t be more excited to partner with Siddiq and Musfique in their next stage of growth.” Suleman Soorani, Director of Principal Investments at Tricap Investments, also added: “We are big believers in Smart Crowd’s digital investment platform and the value proposition it offers to all types of real estate investors and owners.”
According to the company, assets under management have grown more than 60% quarter-on-quarter, while the number of investors has doubled in the last quarter. SmartCrowd CEO and Co-Founder, Siddiq Farid, says: “The rapid growth we are experiencing is down to our innovative approach to property ownership, a market ripe for investment, and the strong economic outlook the UAE is experiencing. Dubai’s real estate transactions are at an all-time high - and that is translating into our growth.
The bridge funding will enable the rapidly growing company to scale its operations, products and establish a presence in new markets including Saudi Arabia and Pakistan. “Meanwhile, our latest bridge funding will help us rapidly scale to new heights and continue our mission of making alternative investment universally accessible to the masses. Average investor has been historically restricted to traditional asset classes such as shares and bonds and unable to diversify their wealth into alternative assets like the wealthy to preserve and accumulate wealth. Now more than ever it is prudent for people to construct investment portfolios that withstand market volatility. For anyone looking to earn a decent return on a relatively small investment, SmartCrowd is a revolutionary offering.” Farid concluded.
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