David Jelly, founder of Property Bridges and former banker, shares his remarkable shift from finance to PropTech. He discusses his disillusionment with traditional banking and the inspiration to innovate property investment. David emphasizes the role of technology in solving real-world issues and offers valuable insights on navigating the investment landscape. He tackles housing challenges in Ireland, focusing on the difficulties young buyers face, and explores the future of construction technology through advancements like modular building and 3D printing.
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Quick takeaways
David Jelly's transition from banking to PropTech illustrates the disillusionment with traditional financial systems and the desire for meaningful change.
Property Bridges exemplifies innovative peer-to-peer lending by directly connecting lenders with builders, promoting transparency and efficiency in property investment.
The podcast highlights Ireland's housing crisis, emphasizing the need for structural changes to address shortages and improve investment engagement amongst locals.
Deep dives
Disillusionment with Traditional Banking
The speaker reflects on their experience in banking, where they felt disillusioned by the perceived inefficiencies of the system. As a trader, they believed that their role lacked value generation in a modern context dominated by technology and direct market access. This frustration led to a broader discussion about the need for change in financial practices, particularly towards more direct and transparent methods of investment. Such sentiments underscore the shift towards innovative platforms like peer-to-peer lending.
Peer-to-Peer Lending Explained
Peer-to-peer lending is described as a method where individuals or businesses can borrow funds directly without traditional banks acting as intermediaries. The process aims to create a fairer financial ecosystem by allowing lenders to earn competitive returns while providing borrowers with more accessible funding options. The speaker cites Property Bridges as a pioneer in this space, connecting lenders with experienced home builders in Ireland and offering secured investment opportunities. This model aims to enhance transparency and efficiency in the lending process.
Cultural Attitudes Towards Investing
A significant point made is regarding the cultural factors that influence investment behaviors, particularly in Ireland. The discussion emphasizes a prevalent hesitation to engage in the financial markets outside of traditional bank savings, rooted in a lack of awareness and accessibility. The speaker notes the substantial amount of dormant money sitting in bank accounts, indicating an aversion to risk-taking and a preference for perceived safety. This cultural context poses a challenge for alternative investment platforms to foster a more engaged investment community.
Challenges in the Housing Market
The conversation highlights the ongoing housing crisis in Ireland, largely attributed to a significant gap between housing demand and supply. A decade of underbuilding following the financial crisis has resulted in a current housing shortfall, with rising population numbers. The speaker points out that despite increased efforts to deliver units, planning delays, regulatory hurdles, and high construction costs impede progress. Addressing these structural issues is essential to alleviate pressure on the housing market.
The Future of Property Investment
Looking ahead, the speaker expresses optimism about the growth of Property Bridges and the peer-to-peer lending sector as a whole. The current regulatory framework, established by the Central Bank of Ireland, is expected to instill greater investor confidence and enables future expansion opportunities. Additionally, emerging technologies such as 3D printing for construction present exciting possibilities for enhancing efficiency and reducing costs in the housing sector. As the industry evolves, these innovations could reshape how properties are built and financed.
In this episode, I sit down with David Jelly, founder of Property Bridges, to explore his fascinating transition from the fast-paced world of banking to becoming a trailblazer in PropTech.
David shares his journey of becoming disillusioned with the traditional financial system and his bold leap into entrepreneurship. He reveals the critical moments and insights that pushed him to start Property Bridges, a platform transforming how people invest in property.
Through candid reflections on risk, failure, and resilience, David provides a roadmap for anyone feeling trapped in a corporate world and ready to pursue something meaningful.
We discuss how technology can solve real-world problems and reshape industries, and David offers practical advice for founders looking to innovate. This is a story about breaking free from convention, building something impactful, and navigating the highs and lows of entrepreneurship.