Property investment platform CrowdProperty has received £ 3 million in funding from Canada-based Flow Capital Corp. The company said the capital infusion will enable it to accelerate its existing innovation and growth plans. CrowdProperty said it is planning some platform upgrades as well as increasing the headcount at the firm. Details of the investment were not provided.
CrowdProperty CEO Mike Bristow said the funding was a “real vote of confidence” in the future growth potential of their marketplace as well as an affirmation in their vision to take the business to the next level.
“We are delighted to be able to accelerate our plans to do what we do best – provide SME property developers with the finance they need when they need it, while also supporting our other stakeholders in building their futures,” said Bristow.
CrowdProperty has been enabling investments in UK property since 2014, having funded the development of 3,542 homes across the UK, or £842million of property in total, having lent £321 million.
The platform reports £224 in capital and interest repaid to investors. Currently, investment opportunities pay up to 10.5% PA. Loan offerings are shorter in term from 6 to 24 months.
CrowdProperty has not reported any capital losses since its inception.