Patch of Land, a real estate crowdfunding platform, has filed a Form D (506c) with the SEC to raise $3.2 million in debt capital. According to the document, Patch of Land has already raised $1.5 million. A minimum investment threshold has been set at $250,000.
Patch of Land last raised capital in 2015 when it raised $23.6 million from SF Capital along with the participation of Ron Suber, the President of Prosper. Since that date, the real estate investment marketplace has gone through a multitude of management changes with many long-time executives departing. In March of 2016, Patch of Land reported having surpassed $100 million in lending and having returned $25 million to investors in both principle and interest.