Amsterdam-based real-estate investment platform BRXS has raised €3 million in a pre-seed round. The platform allows users to directly invest in rental properties and build out a real-estate portfolio for as little as €100. The pre-seed funding round will be used to further develop the platform and diversify offerings as the startup aims to expand into new EU markets.
If the skyrocketing cost of living, a pending energy crisis, and rising interest rates still leave you with an excess of capital, then tapping into one of the largest sources of wealth generation, the real estate market, is perhaps one of the most attractive plays on the increasingly volatile market today.
However, it’s no secret that getting in on the real estate merry-go-round is no easy task. It often requires access to affordable financing, time (and money), a rather lengthy and complicated process (read: get a lawyer, and again, time and money).
Founded in August of 2021 by Uber Legal Counsel (Lead), New Mobility – EMEA, and Director Public Policy and Legal at Berlin’s Vay, Amrita Ramsaransing, and Uber General Manager Western Europe UberEATS, and VP of Operations at Vay, Filip Nuytemans, the thinking behind BRXS is to help next-generation tycoons get started without all the hassle of the traditional model.
When the initial version of BRXS went live in early 2022, according to the company, the platform saw over 5,000 individuals register and the first batch of properties on offer sell out within weeks.
Both Ramsaransing and Nuytemans are no strangers to real estate investing themselves, with Ramsaransing commenting, “We experience firsthand the still outdated and complex process. Add to that the high prices and difficulty to get financing as a young professional, it was just impossible to get started. This needs to change so that not only a select group gets to earn money while sleeping, but everyone has the opportunity to enjoy these benefits.”
It is worth noting that according to the company website: “Brxs does not fall under the supervision of the AFM as it relies on an exemption from publishing a full prospectus. BRXS complies with all legal requirements, issues a full information document per investment property that is shared with AFM and always operates in full transparency with all of its investors.” and that “BRXS intends to apply for a full AFM license (AIFMD) in 2022 as it extends its activities”
BRXS’s €3 million pre-seed round was led by Picus Capital, Axeleo Capital (AXC), and several undisclosed angel investors.
“With their strong execution track record tech, their vision to democratise real estate investing, and their incredible personal drive, Amrita and Filip convinced us even before their business model was finalised. We are excited to support the Brxs team during the next step of building out their platform and allowing more users in Europe to easily access this market,” concludes Picus Capital Partner Oliver Heinrich.
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