Shojin eyes Series B by the end of the year
Shojin Property Partners could launch a Series B fundraising later this year, in what will most likely be its last time seeking external funding, according to chief executive Jatin Ondhia.
Ondhia (pictured) told Peer2Peer Finance News that the group has grown its revenue by 50 per cent over the 12 months to June and it is continuing on a growth path. The firm will probably launch its Series B in the last quarter of the year. It will follow its Series A, which raised £3m in 2022 at a valuation of £49m.
Shojin Property Partners has been profitable for the last three years, Ondhia said, posting core earnings of around £500,000 in its latest annual results.
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Ondhia said the group has invested in developing the business this year and is now looking to make several hires across different areas of the business including origination, marketing and investor relations.
Peer2Peer Finance News previously revealed that Shojin was in talks with private equity firms over a new fund for junior lending. Ondhia said the firm is very close to agreeing partnerships with some private equity firms to deploy money into the space.
Shojin has been big on partnerships since it was launched in 2009. But this has focused mostly on distribution through wealth managers, until now. In August, the group announced two new partnerships, with German real estate investment platform Linus Digital Finance and Reinvest24, an Estonian real estate crowdfunding platform.
“It’s something we’ve been talking about for a while,” Ondhia said. “I believe the market is going to grow with deeper collaboration across platforms. We need to work together already to standardise terminology and risk metrics. We can also cross-pollinate opportunities.”
This is the first time the group has partnered with another platform, but it will not be the last. Ondhia said he is in talks with several platforms in different countries including India and Singapore.
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He is also continuing conversations with potential distribution partners, growing in India, Hong Kong and Singapore, while looking to add Dubai and Israel. The next markets on the list are Saudi Arabia, Canada, Australia and South Africa.