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The move follows Westpac’s investment in the platform late last year through its venture capital fund Reinventure.
NAB Ventures also invested in another real estate platform last month. It led Melbourne-based ActivePipe’s $5.9m Series A funding round.
Its latest real estate-related investment forms part of Brickx’s $9m Series A funding round.
Brickx is an online platform that lets individuals invest in the residential property market for as little as a few hundred dollars. It buys properties and puts them into a trust, which it splits into 10,000 units – or bricks – for investors to buy. This approach is called fractional property investment.
Brickx’s chief executive Anthony Millet said the company aims to assist Australians get into the property market.
“The prohibitive costs and high deposits needed to gain access to the property market, has left many out in the cold,” said Millet.
“Considering the recent volatility in the cryptocurrency and stock markets, Australians are recognising the longer-term stability of property prices.”
NAB Ventures managing director Todd Forest said Brickx is disrupting Australians’ journey to property ownership, in how it provides consumers access to the property market.
“NAB Ventures has scanned the market globally, to identify a range of companies and business models that attempt to solve for this, particularly as NAB looks to support its customers along the full home ownership journey,” said Forest.
Brickx launched to retail investors in 2016 and has offered 14 properties in Sydney, Melbourne, and Adelaide. It has 9,000 investors in its platform.
