CrowdProperty

CrowdProperty passes £20m funding milestone



CrowdProperty has surpassed £20m in funding for property projects and doubled its cumulative lending since it closed a pre-Series A equity fundraise in December 2017.

The P2P property lender recently funded its 47th project through the platform and has now raised £20,526,000 for the development of 307 homes.

Across 23 projects, £9.17m has been returned, including £791,000 of interest.

“Fundamentally, we are solving major pains being experienced on both sides of our marketplace,” said Mike Bristow, CEO at CrowdProperty (pictured above).

“We don’t have the high cost bases of traditional lenders, which include, for instance, their branch networks, origination costs and legacy IT systems and if we introduce interest rate changes, it is always applied to both sides of the marketplace.

“We attract high-quality funding applications giving our lenders an excellent range of opportunities to earn 8%, first charge secured returns.”

In August, CrowdProperty funded a £925,000 residential development in under 10 minutes.

 


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