Property fintech firm secures $60M in Series C funding round

November 4, 2019
Share this Post: 

Investors rush to find alternatives to stocks and bonds as the economy heads downwards—turn to real estate

That’s benefiting PeerStreet and financial technology startups like it.

Since 2013 Los Angeles-based PeerStreet has been operating an investment platform that makes it easy for investors to purchase real estate debt. The startup purchases loans from private lenders around the country, aggregates them and creates a pool of loans that investors on the platform buy shares in.

Most of the loans are short term ranging from six to twenty four months and are underwritten with LTVs of under 75%. Lenders on the platform use the investors capital to lend to people who buy real estate investment property to flip or generate income.

Growing interest in these types of investments is one of the reasons PeerStreet just closed a $60 million Series C round of venture funding led by Colchis Capital and a consortium of institutional investors. Existing investors Andreessen Horowitz, World Innovation Lab and Thomvest Ventures also participated.

Brett Crosby, PeerStreet’s Co-Founder said he was excited about this round because of the type of investors PeerStreet is bringing on. “We had multiple term sheets and opportunities,” said Crosby. “In this round we went with investors who can expand our business and bring on people who are in the debt buying space.” Colchis Capital has been a strategic partner of PeerStreet for years as an investor and also offering loans on the marketplace.

Read more here

Join us November 13-15 for the Property Portal Watch Conference Madrid 2019.

Property Portal Watch Madrid Conference 2019

November 4, 2019

Subscribe to our mailing list to get news updates!

Enter your email address and get updates from Online Marketplaces.

Related News

Rightmove Not Listening
Rightmove to ‘Reject’ Listings Without a Price—and None of Its Current Listings Are Compliant

From today, new listings that don’t display a price cannot be uploaded to Rightmove. Rightmove made the announcement to comply...

Read More
Zigbang Investment Scaled
Zigbang Secures $77m Funding Before Anticipated IPO

Real estate marketplace ZigBang has raised ₩100 billion ($77 million USD) in what is believed to be a pre-IPO equity...

Read More
Shutterstock 1668133759 Scaled
Offerpal secures pre-seed funding round

Proptech startup Offerpal has raised an undisclosed pre-seed funding round led by Swedish venture capital firm PropTech Farm, with Offerpal...

Read More
Immowelt And Remax Partnership
Immowelt and RE/MAX Expand Their Partnership

Remax Germany and immowelt will increase their collaboration through shared marketing services. Immowelt will now provide some of its digital...

Read More

Popular News