PeerStreet, a leading platform for investing in real estate backed loans, announced last week that more than $3 billion in loans have been transacted through its marketplace portal since its launch. The latest milestone comes just one month after PeerStreet secured $60 million through its Series C funding round, along with $4.25 billion in new capital commitments.
PeerStreet reported the year-over-year growth in loan volume has more than doubled every calendar year since PeerStreet’s launch. It took three years for the company to hit its first billion; the second billion took just a year, and it hit three billion in roughly six months. Speaking about the latest milestone, Brew Johnson, Co-Founder and CEO of PeerStreet, stated:
“While we’re excited about what we’ve accomplished so far, the mortgage finance industry is one of the largest financial markets in the world, so we have a long way to go before we fulfill our mission. What’s most gratifying is that our business model has demonstrated that the more we grow, the more value we can create for investors, small lending businesses, and borrowers. We’re excited to keep this value creation and momentum going far into the future.”
PeerStreet then noted that the growth can be attributed to a number of factors including the company’s technology and product innovation, highlighted by its proprietary platforms for both investors and lenders. The lender added:
“The growth is also a result of PeerStreet further expanding its product offerings to include long-term real estate debt through a new Residential for Rent program, a streamlined loan document generation software product called PeerStreet DocGen, and incorporating more loan types into its Automated Investing feature, which now boasts a low $100 minimum for small-balance reinvestments.”