CrowdProperty hones in on £1.1m equity funding round smashing £600k target

Property peer-to-peer lender CrowdProperty has closed a £1.1m equity funding round.

The campaign, hosted on Seedrs, beat its £600k target, over-funding by 81 per cent with £1.89m raised from 575 investors based on a pre-money valuation of £15.7m.

The news comes shortly after CrowdProperty backed a financial institution to lend up to £100m of loan capital to CrowdProperty’s expertly curated property projects over the coming one to two years, as well as the launch of a new AutoInvest product.

The raise was reportedly popular amongst existing customers on both sides of the CrowdProperty P2P marketplace.

Mike Bristow, chief executive of CrowdProperty, said: “CrowdProperty proved the concept as well as the efficiency and effectiveness of proprietary tech, systems and processes prior to our fundraise in November 2017.

“Subsequently, we proved the ability to scale the business across every metric with investment whilst maintaining our 100 per cent capital and interest payback track record, having now funded the development of 559 Great British homes worth almost £100m.

“We have built up an exceptional rate of directly originated quality property projects. Coupled with the recently secured £100m of institutional capital backing, there are strong lead indicators of CrowdProperty’s potential to be funding millions of pounds of property projects a year.”

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