Despite headwinds, real estate investment platform executes Brazil incursion

A crowdfunding platform geared to people wanting to invest in real estate has pressed ahead with its Brazil incursion.

Bricksave, co-founded by Argentine Sofía Gancedo, sees Brazil as a springboard into other markets in the region.

Headquartered in the UK and established to democratize access to real estate investment, Bricksave already had operations in Argentina.

“In difficult times like these, intelligent decisions are required and, therefore, Bricksave continues its expansion in Brazil,” CEO Tom de Lucy said in a statement. 

Bricksave platform users can invest from US$1,000 upwards, building diversified portfolios of properties in the Americas and Europe. 

“Brazil forms part of our regional expansion plan. It’s a strategic market because of its size and the potential for our business,” Bricksave COO Gancedo (pictured) told BNamericas.

“To take this step, we received US$1.4mn in backing from prestigious financial institutions such as Seedrs, Kinled Holding and Lab Ventures. Our plan is that Brazil spurs the launch of operations in other countries on the continent because we believe Latin America has great opportunities for the real estate sector and especially for real estate crowdfunding.”

Bricksave, which aims to reach sales of US$2mn in Brazil this year, is establishing a local commercial team in São Paulo, which the company plans to expand to provide greater coverage. 

In terms of regulations, these are in place, Gancedo said.

“Real estate crowdfunding has been regulated in Brazil since 2017, but it’s a market with a long road ahead. There are some local competitors but there are many opportunities and our intention is to offer Brazilian investors a safe, formal and long-term option.”