David Criscuolo, a former RBS investment banker, has taken a large stake in Yorkshire-based proptech tech company CurveBlock, while becoming its 33rd angel investor.
The company’s co-founder and Managing Director of Lands and Development, Matthew Couch, was instrumental in this investment and collaboration with Criscuolo, which is also expanding CurveBlocks’ portfolio of sites.
Criscuolo said: “I spent 20 years in the city working for financial institutions, starting on the trading floor at LIFFE with RBS.
“I also pioneered a new data trading system to integrate separate exchange transactions across multiple asset classes, as well as to link the front and back office functions of the bank.
“I felt compelled to retire from the City in 2012 to run a small family business founded in 1863. In recent years I have turned my attention to property development.
“I’ve seen firsthand the development funding issues, which are widely blamed on the unregulated industry in which it operates.
“The current lending format increases a project’s risk rather than reducing risk, so the process needs to change to allow for a smoother transition to financing at more competitive market rates. Reduce costs, reduce risk, reduce returns, fewer failures and increase the number of housing units. »
CurveBlock was set up to reduce borrowing and lending risk and at the same time decided to cede development returns to investors.
Rather than matching investors with single projects, the company seeks to invest in multiple projects, thereby increasing the initial return for the investor.
Most importantly, he sought to connect with the future of housing, embracing new technologies and producing sustainable homes that create more energy than they consume.
The last the investment and collaboration also brings an exciting new joint venture into CurveBlocks’ development pipeline, which aims to deliver nine new zero-carbon, energy-positive family homes in London.
CurveBlock Co-Founder and Chief Revenue and Compliance Officer, Joey Jones, said, “Developing partnerships with people and businesses who share our vision of financial inclusion and zero carbon, energy-efficient real estate positive is what we have always been.
“Consolidating this relationship with David Criscuolo is one more step, albeit an important one, on this journey and one that we at the CurveBlock team are very excited about.”