CapitalRise, an online property lending and investment company, has closed a ?2m seed round from Raakhe K Tandon.
Raakhe K Tandon is the daughter of banking entrepreneur Rana Kapoor, who established India-based YES Bank in 2004.
Launched in 2016, CapitalRise is an online property financing marketplace to help connect investors with real estate opportunities. Investors can make contributions from ?1,000 and all transactions receive ISA benefits.
All investments on the platform have been selected by an expert team and there are no fees to investors through the app. Borrowers can access the platform to apply for bridging, development and sales period loans.
According to a press release, Raakhe decided to invest in CapitalRise due to its unique PropTech position for UK property developers on one side, who could raise financing from individual and corporate investors on the other side.
With this batch of funding, CapitalRise will look to expand its team and open up more opportunities in London and other areas in the UK.
CapitalRise CEO Uma Rajah said, ?Over the past 19 months we have built our technology platform and proved our business model, having already paid out over ?2 million back to investors.
?Our latest opportunity was fully funded in under two business days, witnessing, on average ?730,000 of funding raised from our members each working day (with a waiting list of members ready to invest in our upcoming projects).p>
Last month, real estate loan investment platform Peer Street completed its Series B funding round on $29.5m. The deal was led by World Innovation Lab and will help the Californian company to broaden the types of loans available to investors.
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