GenoCrowd, an online real estate investment platform, is reporting that it distributed €1.38 million to investors at the beginning of April.
GenoCrowd described the distribution as a “milestone.” The total amount consists of complete repayments from three projects and interest payments from two projects.
The platform also reported that the project “Stadtvilla in Markkleeberg, Leipzig” will generate returns to investors early.
GenoCrowd was founded in 2020 with a mission of connecting investors and project developers in a simple and straightforward manner and enabling real estate crowdfunding with good returns in a short term. GenoCrowd has partnered with Raiffeisenbank im Hochtaunus eG, and the company is a 100% subsidiary of portagon GmbH.
Raiffeisenbank is a feeder for developments in need of financing. portagon provides the technical infrastructure and commercial services and operates the GenoCrowd platform.
The debt offerings are currently returning around 7% to 8%.