CrowdProperty lands £1.8m equity raise from crowdfunding investors

The business is on track to scale to more than £400m of lending per year by 2024, according to CEO Mike Bristow.

CrowdProperty has closed a £1.8m equity crowdfunding round on Seedrs.

It is the third time CrowdProperty has raised money with Seedrs. In this instance, the round was overfunded by 227 per cent against an initial £800k target. In total 793 investors participated.

CrowdProperty, which says it has originated £146m of lending to date, has now raised a total of £3.9m in equity capital having raised £900k in November 2017 and £1.1m in March 2019.

It also recently closed a £300m institutional funding line agreement with an unnamed investment manager.

CrowdProperty, which says it has originated £146m of lending to date, has now raised a total of £3.9m in equity capital having raised £900k in November 2017 and £1.1m in March 2019.

Mike Bristow, CEO of CrowdProperty, says the firm has proven the profitability of the business model in recent years whilst still investing in growth.

“We’ve yet again proven that we can scale rapidly and add considerable value with equity capital investment. This round is to further step change the business and to realise our potential quicker in our mission to transform property finance - to unlock the power of SME property developers in the UK to build more homes, increase spend in the UK economy and ever more efficiently and effectively match the supply and demand of capital for the benefit of all.” 

”We have built a very strong pipeline that currently stands at £322m of progressed quality lending opportunities, putting us firmly on track to provide £400m+ of lending p.a. by 2024, underpinned by a highly scalable, in-house built, proprietary technology platform, scalable capital sources and deep expertise in exactly the asset class being lent against.”