CrowdProperty lands £300m institutional funding
The funding comes just two months after the alternative lender made its first steps abroad, launching in Australia earlier this year.
Lending platform CrowdProperty has bagged a £300m five-year institutional funding line with a new unnamed UK asset manager.
The latest investment is designed to complement CrowdProperty’s existing capital sources.
To date, the lender has funded the development of over 1,500 homes worth £297m across the UK, originated £181m of agreed facilities and lent £141m.
"Investor liquidity is higher than ever due to the deep property expertise, high-quality origination, 100 per cent capital and interest payback track record and trusted brand built since 2014,” Michael Bristow, UK CEO and founder, said.
"This is naturally attracting more institutional sources of capital looking to work with the most proven, highest quality players with deepest asset class expertise and market-leading track records.”
Bristow also believes that despite the £300m injection, CrowdProperty is still yet to realise its full potential in the UK market.
"The UK has built a very strong pipeline that currently stands at over £322m of progressed quality lending opportunities. In three months in Australia, we’ve assessed over $100m of projects so far with a goal to fund over $50m by the end of 2022,” David Ingram, CEO of CrowdProperty Australia, added.
Earlier this year, CrowdProperty also found itself on the Financial Times’ FT 1000 list of Europe’s fastest-growing companies, coming in at 134 on the list and joining the likes of Bunq,Scalable Capital and LendInvest.