The backing will help the P2P lender to fund its property projects over the coming 12-24 months.
Mike Bristow, chief executive at CrowdProperty (pictured above), said: “Institutional capital improves CrowdProperty’s capacity to fund larger projects, which we are seeing more and more of from our very successful direct origination strategies.
“This increases our appeal to borrowers and brings in additional income, allowing us to invest further in our origination strategies, leading to a greater number of project applications.
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“This will result in an ever-increasing number of quality opportunities for retail investors to employ their capital and earn inflation-beating, first charge secured returns with us.”
This news comes after CrowdProperty revealed that it had provided over £30m for the development of 500 homes worth over £80m.
Mike also stated that SME property developers were “poorly served by traditional lenders”, yet they were “increasingly important in tackling housing undersupply”.
“A mix of retail, high-net-worth and institutional investors leads to a more sustainable economic marketplace,” he added.