£90m fund launches for 'proptech' start-ups

A new investment fund amounting to around £91m has been launched in the UK aimed at investing in property tech start-ups. The real estate arm of banking giant BNP Paribas and US-based Fifth Wall, the world’s largest venture capital fund focused on so-called “proptech”, will pump capital into early-stage businesses in Britain and Europe. The investors believe the sector is “underpenetrated” and that the pandemic has accelerated trends towards digitisation and low-carbon projects. Proptech is loosely defined as anything that has digitised existing processes in the real estate industry.

Read more: The Daily Telegraph


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