Crowdfunding property platform Property Partner is making 13 of its 44 employees redundant in the wake of a “growing theme of caution”.
The roles at risk are mainly support-based.
Property Partner chief executive Dan Gandesha said the redundancies were part of a move to manage costs and “improve focus” on the core business.
Gandesha said: “We will shortly be launching a global innovative ‘bidding-engine’ feature that takes us yet closer to our vision of a global stock exchange for residential property.
“Our balance sheet remains strong; our team, board and shareholders are committed, and we are all as passionate and confident about the future as ever.”
The decision comes after the firm raised £15.9m in equity and debt in March.
The company says around 8,000 people have invested more than £34m in total on the platform, buying up 234 properties.
Gandesha added that the redundancy decision was taken “before and irrespective of the referendum result”.
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