UK-based specialist property peer-to-peer lender CrowdProperty successfully secured its initial £600,000 equity crowdfunding target on Seedrs. The online lending platform launched the initiative on Friday and is seeking to use the funds for t in talent, tech development, and marketing.
As previously reported, CrowdProperty was launched in 2014 and claims it has been responsible for £10.7 million of development finance loans between private individuals and UK professional property businesses with a database of over 6,000 registered users. The online lender also stated it has unique proprietary access to the largest property network in the UK, the Property Investors Network (pin), which notably provides a competitive advantage in terms of high-quality deal origination and has enabled the proof of the business with limited marketing investment to date.
After facilitating 27 projects, CrowdProperty is now funding at speed, with the last two projects funded £910,000 in a little under 45 minutes and £490,000 in less than 20 minutes respectively. The lender recently received full FCA Authorisation and has surpassed £10m million in lending. CEO of CrowdProperty, Simon Zutshi, stated at the campaign’s launch:
“I am delighted that we have now proven this model of helping successful property developers to fund their projects, whilst helping investors gain a secured return on their money. All of the recent project launches have been quickly funded up by our eager and loyal base of lenders, which clearly demonstrates the traction we have built in our brand. Over the last year, we have focused on our platform technology and processes, and now we are ready to scale this business to its full potential. This will not only benefit our lenders, but also help and support SME developers, who often struggle to raise funds from hesitant banks, to access the essential funding they need to help reduce the UK housing crisis.”
The campaign is set to close later this winter.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!
