By Oliver Smith on 5th April 2019
CEO Uma Rajah says the funding will help CapitalRise hit £100m in lending.
Peer-to-peer property lender CapitalRise has beaten its Seedrs crowdfunding target by 50% in just three weeks since it launched.
The company lets investors lend to developers working on property in prime London locations like Mayfair and Knightsbridge.
So far CapitalRise has received over £1.6bn in loan applications in the last six months and has helped investors lend our over £27.2m.
“With new loan enquiries continuing to pour in and clear investor demand for asset-backed investments offering high returns potential, it’s an opportune time to accelerate the growth of our platform thanks to this additional firepower,” said Uma Rajah, the cofounder and CEO of CapitalRise.
Its fresh £2.27m funding round valued the business at £18.25m and will be used to expand the CapitalRise team and push its marketing activities with the goal of reaching £100m ing lending.
“Our expansion will be driven primarily through writing increasingly bigger ticket loans, whilst ensuring we never compromise on the quality of assets we lend against, so that we can maintain our impressive track record and competitive edge in the prime market,” added Rajah.
The campaign also saw investor signups to the platform surge, likely prompted by the average annual returns on CapitalRise’s loans of over 10%.