CEO Uma Rajah is a deal closer to her goal of lending £100m to developers.
Peer-to-peer property lender CapitalRise today announced major new financing for the acquisition and renovation of a luxury Chelsea apartment.
The £1.9m funding will transform the property at Drayton Gardens into a three bedroom, two bathroom property with an improved kitchen and living area.
Uma Rajah, CapitalRise’s co-founder and CEO, said: “This latest loan demonstrates our team’s willingness to think creatively and build bespoke financing solutions that enable developers to deliver complex business plans.”
Rajah, who will be speaking at AltFi’s Alternative Property Forum on 3 July, has facilitated loans against some £300m of property in prime locations like Mayfair, Knightsbridge and Belgravia.
In April the company smashed its crowdfunding goal by raising £2.27m in equity capital in order to grow the team and start handling more of the £1.6bn in loan applications it’s received in the last six months.
CapitalRise has now lent nearly £30m to developers, with a goal of lending £100m off the back of its recent fundraise.