Rick Parry joins as a senior adviser to the board after Holiday Crowd raised a total of £290,000 in seed funding from a group of angel investors, which included Clive Sykes, founder and chairman of Sykes Cottages and Apadmi Ventures, the venture arm of Apadmi Limited.
The funding will be used to further develop the online platform and allow Holiday Crowd to launch new properties for investment in some of the UK’s tourist hotspots.
“Investment in holiday property has traditionally been limited to those with significant resources at their disposal,” said Clive.
“Holiday Crowd changes this, opening up the market to new investors and using the latest technology to make the whole process more efficient.
“I’m a proud backer of this innovative company and look forward to seeing it grow in the coming months and years.”
Holiday Crowd enables investors to build a portfolio of shares in holiday rental properties in amounts upwards of £1,000 so they can benefit from the financial rewards of ownership, including a share in any rental income and potential capital appreciation linked to the underlying property.
- FTSE 250 property investor raises £95m for acquisitions
- Crowdfunding platform for SME developers to launch in April
- Exclusive: P2P platform aims to treble development lending
The platform recently announced an exclusive partnership with Sykes Cottages to provide their properties with a high level of bookings and professional customer services as well as giving the Holiday Crowd access to a consumer base of more than two million holidaymakers.
Rick Parry is joined by Manchester-based property investor Mark Oakes – also recruited as a senior adviser to the board – as Holiday Crowd looks to provide an online platform for investment in the fast-growing holiday rental market.
“Given the current headwinds in the residential buy-to-let market, we expect investors will be attracted to the resilience of holiday property as an asset class,” said Rick.
“A falling pound and increasing tourism to the UK are also contributing to the success of the holiday lettings market providing an excellent opportunity for investors.”
Alistair Malins, CEO of Holiday Crowd, concluded by adding: “This investment puts us in a fantastic position to accelerate our growth by investing in the platform and building a portfolio of hand-picked properties for investment.
“We have ambitious plans for this large and fast-growing market and are looking forward to a successful year ahead of us.”