Record Week of Loans for CapitalRise, as Property Investment Platform Reports £50 Million in Lending

PropertyRise, a UK-based prime property investment platform, is reporting a record week of lending, having booked £50 million in loans. According to the company, multiple credit records were broken in October as interest in the property offerings rise.

Another metric achieved during October is completing £21.5 million in loan originations completing in one week.

Uma Rajah, CEO and co-founder, CapitalRise, said that they have experienced a huge amount of demand, reflecting the fact that there are great opportunities for both investors and developers on their platform:

“As a challenger lender, we understand the need to be responsive. As such, our credit committee works closely with our lending team to ensure we can meet the high demand we’re currently experiencing. Our credit committee, which usually sits twice a week and can be called on-demand by our Lending Team, had to increase to daily credit meetings on occasion in October to support our borrowers – and enable them to take advantage of the opportunities they are seeing in the market. Our new team members have made an immediate impact, and we look forward to further capitalising on their valuable experience and skillsets to propel our business to the next level.”

CapitalRise explained that their prudent lending approach and rigorous due diligence, alongside the resilience of prime London properties, has fueled the deal flow.

This most recent news follows the announcement in mid-October that CapitalRise had originated over £200 million worth of loans, funding developments across London and the Home Counties to the value of over £640 million.

CapitalRise said it lent just under half  – £99 million of this amount in the twelve months to the end of June 2022 – a 252% increase on the value of loans originated in the year prior.

The demand for its offerings has been joined by the need to hire more employees. CapitalRise said it has hired 6 new executives to help manage its growth.

Recently, CapitalRise has appointed Raf Chowdhury as Associate Director and Ryan Parrett as Lending Director to help guide the company through this period of fast growth. Tony Humphreys has been hired as Credit Manager while Julia Sinclair is the new Head of Product.

CapitalRise has also added Philip Whiting as Head of Marketing and Flora Snape as Marketing Manager to better promote its offerings.

CapitalRise allows individual investors to invest in prime London property with as little as £1000. It reports no defaults since inception.

 

 

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