It will be offering its non-bank lending alternative to the SME property development market in Australia, which it believes faces similar pains to those being solved by the lender in the UK.
CrowdProperty Australia’s CEO, David Ingram, has experience in strategic advisory and operations in the property, fintech and healthcare industries, in both the UK and Australia.
He has also founded and successfully exited an Australian fintech and is expected to drive CrowdProperty Australia and realise its potential.
David will be supported by CMO and co-founder, Ian Bell; COO and director Tony Zulli; property director, Daniel He; and head of marketing and growth, Jamie Millar.
UK CEO, Mike Bristow, will sit on the CrowdProperty Australia board alongside David, Ian, Tony and Daniel.
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“The model that we have proven with great success in the UK is a perfect fit for the Australian market,” said Mike.
“We're a company founded by people who have long experience developing property and working in the finance sector, built entirely around the customer.
“We intimately know the pain developers experience when trying to fund projects and have built a lending business to deliver speed, ease and certainty of funding for these developers, who can spend up to a third of their time working to secure finance for their property projects.”
CrowdProperty Australia is additionally funded by a select group of domain-experienced investors in Australia, ranging from property development, property professionals, financial services, lending, fintech, technology and marketing.
“We know that property developers can spend up to six months waiting to secure finance for a project, with lenders often changing the terms of the loan at the very last minute,” added David.
"CrowdProperty can take that process down to a matter of a few weeks, with no hidden fees nor surprises that plague more traditional funding options.
“Our solution matches investor capital more directly to the developer, using it to add value, enable greater returns and meet the major needs of both sides of the marketplace.”
Since launching in the UK in 2014, CrowdProperty has funded over £250m of property projects by SME developers, constructing over 1,400 homes in the UK.