The online property marketplace launched in January 2018 with the aim of offering a different product to existing P2P property lending platforms.
BLEND Network only provides loans to SME property developers for development projects outside London and secured against the underlying property.
It offers loans that have returned an average 12.11% pa net to investors.
As a result, its ninth loan was filled in 98 minutes and it has seen a surge in new investor registrations.
- Assetz Capital supports construction of luxury Holywood homes
- CrowdProperty launches Seedrs funding round
- Property developer launches bond with Crowdstacker
“We are delighted to have reached such a significant milestone so early on following our launch and would like to thank our lenders who have provided us with the opportunity to increase our lending to UK SME property developers,” said Yann Murciano, CEO at BLEND Network (pictured above).
“We are very happy to see growing lender appetite and trust in BLEND Network.”
Yann added that the UK faced one of its largest housing crises in decades and that a lack of funding was one of the key challenges for SME property developers.
“We strongly believe that there is a great opportunity for us to play a major role in supporting SME property developers build the houses the country needs while delivering solid returns to our lenders.
“It is vital we continue to source loans that sit on a sweet spot on the risk/reward curve.”