CapitalRise, a marketplace that enables smaller investors to participate in prime UK property developments, is reporting a £4.9 million loan for a Chelsea property. The financing closed in just four weeks.
The funding follows the announcement that CapitalRise has received the backing of an unnamed bank, which has provided a £250 million line of funding. Incorporating institutional funding is key for marketplaces to boost growth and scale.
The loan was in collaboration with London-based debt advisor Panthera Finance.
Lee Francis, Head of Origination at CapitalRise, said the fast turnaround of the financing is emblematic of their ability to provide fast and flexible financing to quality borrowers. The loan also demonstrates the company’s wider appetite to lend within the prime property market.
Jason Caprioli, Lending Director at Panthera Finance, added that their role as a high net worth finance broker is to match the right lender to the right deal.
“Whilst a focus on rates and costs is always at the front of our minds, clients at a certain level of wealth and sophistication also highly value speed.”
Since its inception in 2016, CapitalRise reports that it has originated loans against over £800 million of prime property assets and returned over £159 million to investors.
According to CapitalRise’s website, there have been zero losses for investors to date.