Since launching nearly six years ago, the platform has accelerated lending over the past year.
Specialist property peer-to-peer lender CrowdProperty has secured a new £100m funding line from an institutional investor.
The Birmingham-based platform, which has now lent over £30m, was launched in 2013. Mike Bristow, CEO of CrowdProperty says more institutional capital will improve the platform's capacity to fund larger projects, which it is seeing in greater frequency but declined to name who the new investor is.
“This increases our appeal to borrowers and brings in additional income, allowing us to invest further in our origination strategies, leading to a greater number of project applications.”
“This will result in an ever-increasing number of quality opportunities for retail investors to employ their capital and earn inflation-beating, first-charge secured returns with us.”
He adds that having a mix of retail, high net worth and institutional investors will lead to a more sustainable economic marketplace.
"SME property developers are poorly served by traditional lenders yet are increasingly important in tackling housing under-supply and developing the 300,000+ homes needed every year to meet the nation’s demand. The support of this institution and our loyal lender base means that we can provide more and more property professionals completing quality property projects with quick, straightforward finance and outstanding service, no matter the economic climate.”
“The introduction of financial institutions to our funding mix will only grow the number of quality investment opportunities available on our platform.”