Property Partner Rebrands as London House Exchange. Parent Company Better Invests Additional £2.4m.
With the rebrand, London House Exchange ("LHX") reprises its original legal name since its 2014 founding and returns the spotlight to being the world's first and leading stock exchange for individual properties. LHX has £120m of fractionalized property assets under management and over 8,000 investors from over 80 countries. Since inception, £55m of property shares have been traded on the FCA-regulated trading exchange, the only one of its kind for individual residential properties.
The new brand gives the company a clearer and more recognisable identity, one which transcends borders.
"The name London House Exchange speaks directly to what we already do and reflects our plans for a truly international trading exchange," said Warren Bath, CEO of London House Exchange. "Only on LHX are our clients from across the world able to instantly buy and sell shares in UK properties, delivering liquidity today to an otherwise illiquid asset class."
"Real estate is the largest asset class in the world, worth more than shares, stocks and bonds combined, and residential property makes up approximately 75% of this total. However, unlike those other asset classes, property transactions take months rather than seconds. Our mission is to successfully make property assets liquid and tradable at global scale," said Michael Lamont, CEO of Better UK.
Market liquidity is the driving force behind a £2.4m programme of direct investment in London House Exchange by its parent company, Better Holdco, Inc. ("Better"). Better is a leading digital homeownership company that has funded over $100 billion in mortgage loans since inception, $4.6 billion in real estate transaction volume and $38 billion in insurance coverage written. Better is revolutionising the home finance industry, helping thousands to more easily find a path to homeownership through its low-cost and transparent platform.
Better's direct investment will increase liquidity on LHX, encouraging efficient pricing and asset valuation across the platform.
"We acquired Property Partner in 2021 on account of their unique platform which allows any property anywhere in the world to be fractionalized, turned into shares and traded on an FCA regulated exchange, the only one of its kind in the world," said Vishal Garg, CEO & Founder of Better. "Renaming the business to London House Exchange encapsulates their reason for being: the world's first and leading stock exchange for individual properties. Enabling the purchase of shares in property from Nottingham to New York is just the beginning, and we are thrilled to support the team with this additional investment."
Hashtag: #LondonHouseExchange
The issuer is solely responsible for the content of this announcement.
About Better
Better is America's #1 online, commission-free home finance, insurance and realty company. In just six years since launch, Better has leveraged its commission-free service offering and Tinmanâ„¢, its industry-leading technology platform, to fund more than $100 billion in home financing. In addition to being the first fintech to reach this milestone, Better has completed over $4.6 billion in real estate transaction volume through its realtor service Better Real Estate and agent network, as well as over $38 billion in coverage written through its insurance arm, Better Cover and Settlement Services. Better has earned countless awards for its work in making homeownership more affordable and accessible to all Americans. Better was ranked #1 on LinkedIn's Top Startups List for 2021 and 2020, #1 on Fortune's Best Small and Medium Workplaces in New York, #15 on CNBC's Disruptor 50 2020 list, and was listed on Forbes FinTech 50 for 2020. For more information, follow @betterdotcom.
About London House Exchange ("LHX", formerly Property Partner)
Founded in 2014, LHX created the world's first regulated stock exchange for individual properties, making fractional residential property ownership a reality. Over 8,000 clients from over 80 countries have invested in £120m in assets under management and have traded over £55m on the trading exchange. London House Exchange was acquired by Better in September 2021.
