Proptee prepares for beta launch

European property investment platform Proptee is launching in beta mode.

Last month, the platform, which lets investors use an app to buy shares in properties in exchange for receiving a portion of the monthly rent, invited users to take part in the beta launch.

To be able to test the app iPhone users need iOS 14 or higher while the company plans to launch an Android version in 2022.

Read more: Proptee to apply for full FCA authorisation ahead of launch

“We’re about to launch the beta version of our app,” Proptee said in an update to its users last month.

“Initially, we will have a private beta with a couple of people.

“After some testing, we’ll begin rolling out the app to everybody!”

In December, Proptee secured €60,000 (£51,000) of institutional funding from Lebenheim Capital, Steep VC, and three business angels.

The platform said the funds would be used to expand its engineering and design team and to build and launch its technology.

Chief executive Benedek Toth and chief technology officer Alexandru Rosianu co-founded the platform. Both are engineers with years of experience in fintech.