Real estate crowdfunding platform RealtyShares has scored $28m in its Series C funding round to help it further push commercial financing.
Contributions to the round came from Cross Creek Advisors, Danhua Capital, Starwood Capital founder Barry Sternlicht, Bow Capital, Union Square Ventures, General Catalyst Partners, and Menlo Ventures.
San Francisco-based RealtyShares is a real estate crowdfunding platform with a minimum investment of $5,000 into each property. Each transaction can be made on a debt or equity basis, with most investments offering monthly or quarterly cash flow distributions. The company has deployed $500m across over 1000 opportunities in 39 states.
RealtyShares founder and CEO Nav Athwal said, ?Middle-market commercial real estate comprises the majority of commercial real estate transactions, but it one of the last frontiers to be disrupted by technology. The new partners were bringing on in this round have significant experience transforming old industries, and can help us deepen our focus on the severely underserved commercial financing market.p>
This equity round brings total funding raised by RealtyShares to $60m. Last year the company received a $30m credit line, from an undisclosed firm, to pre-fund properties listed on the company crowdfunding platform.
Over the past six months RealtyShares has added former Cushman CEO Edward Forst to its board and former Third Point partner Keri Findley and former Apollo senior partner Joseph Azelby as advisors. Also in this time the company bought Acquire Real Estate and creates a partnership with real estate lender Lima One Capital.
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