Property crowdfunding platform CapitalRise has raised more than £1.9 million through its latest equity crowdfunding campaign on Seedrs, which is set to close later this week. The funding round was launched last month, originally seeking £1 million. The initiative made its debut just a little over a year after raising £2,395,250 through its first Seedrs campaign.
As previously reported, the funding portal was founded by Alex Michelin and Andrew Dunn who founded Finchatton, an international luxury property development firm. According to the company, the pair have developed over £1.2 billion of real estate across 120 transactions with no losses.
“CapitalRise is a successful, multi-award winning online platform that makes it easy for Property borrowers to raise finance quickly and efficiently and Investors to obtain market leading returns of 7 – 12 % per year from secured lending to prime real estate.”
CapitalRise further revealed that its CEO and Co-founder Uma Rajah is one of the pioneers of the FinTech sector. An early employee at Wonga, Uma was Head of Product and helped grow the firm to over 900 people at peak. In late 2015 she left to launch CapitalRise. She notably brings a decade of fintech expertise, having successfully launched, developed, and scaled more than five different lending platforms.
“The platform disrupts the old way of investing in property to give everyday investors easy and direct access to real estate investments of the finest quality that generate attractive returns. By eliminating the middlemen, CapitalRise enables investors to earn forecast returns of 8% to 12% per year. Borrowers can expect competitive rates, quick decisions and fast funding once approved.”
Funds from the latest Seedrs round will be used to continue the growth and development of the CapitalRise platform
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