Patch of Land Announces Public Fundraising on SeedInvest: CEOs Jason Fritton and Ryan Feit Comment

Patch of Land, one of the fastest growing debt-focused real estate crowdfunding platforms, today announced that it is Patch of Land new logonow publicly fundraising its seed round on SeedInvest, a leading equity crowdfunding platform with over 5,000 registered and accredited investors.  “SeedInvest continues to provide qualified investors with access to vetted startup investment opportunities and a few months ago, utilized its own platform to quickly raise $2.15 million of its $4.15 million Series A,” explained the company. Since launching in 2013, SeedInvest has attracted thousands of investors who are collectively looking to invest over $250 million in startups.

jason fritton“SeedInvest was an easy choice for us because of their focus on vetting quality companies and their focus on technology, ease of platform use, transparency and access, much like Patch of Land. We see many benefits of working with Seedinvest, especially being exposed to their investor network,” Jason Fritton,  CEO and Co-Founder of Patch of Land stated via email. “We felt that crowdfunding Patch of Land made sense for who we are – as a crowdfunding company ourselves, what better way to live your own motto? We wanted to allow other investors to participate in our growth. And this is the first time a CFRE company crowdfunds for equity on another platform. We will use the funds to continue growing the business, hiring new talent and developing our scalable technology.”

Sharing in the exciting news, Ryan Feit, CEO and Co-Founder of SeedInvest wrote via email:Ryan Feit Seedinvest

 “We are honored that Patch of Land chose to use SeedInvest to conduct its online fundraise.  Given that Patch of Land and SeedInvest both opted to conduct our own fundraises publicly, we are clearly big believers in the power of public fundraising. It’s exciting for us every time a startup chooses SeedInvest, but to have another player in the crowdfunding ecosystem choose us, that’s quite a compliment.”

seedinvest logo blackWhen asked what brings other platforms in addition to Patch of Land to list with SeedInvest, Feit responded, “Customers such as Patch of Land and 500 Startups chose us because our technology and processes are the best out there when it comes to streamlining a public fundraise.  In addition, it certainly provided additional comfort that we recently utilized our own platform to publicly raise a few million dollars ourselves.”

Patch of Land is a Peer-to-Real-Estate (“P2RE”) lending marketplace that matches accredited investors seeking high-patch of landyield, short-term, asset-collateralized investments to borrowers seeking more timely and consistent sources of funding for rebuilding properties across the US.  Launched only a year ago, Patch of Land has already become one of the leading real estate crowdfunding platforms for investors interested in obtaining short-term debt for residential and commercial rehabilitation and bridge loans.  “Patch of Land has positioned itself at the forefront of the industry through its focus on fundamentals, proprietary technology, and modular, scalable systems,” stated the company.  “Patch of Land addresses the problem of inefficient, fragmented, and opaque real estate private lending by using technology and data-driven processes to efficiently, transparently underwrite loans at scale for borrowers with real estate projects that are routinely bypassed by traditional lenders.” To date, the US- based platform boasts over $8.7 Million in national funding for 43 loans in eight states.

Patch of Land Big“SeedInvest and Patch of Land both exist within the new space created after the SEC lifted the ban on general solicitation under Regulation D of the Securities Act, in September 2013. Both of our companies have been successfully blazing trails in our respective sectors,” said Fritton. “We are excited to be working with Seedinvest to ‘crowdfund’ our own crowdfunding company. We want to use Title II of the JOBS Act not only for funding our own offerings online, but in the true spirit of crowdfunding, to give qualified, accredited investors an opportunity to be part of our strong growth and success.

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