P2P lending platform LandlordInvest has launched a pre-Series A round of funding via the crowdfunding platform CrowdCube.
LandlordInvest’s crowdsale has a target of £300,000; however, the company will raise up to a total of £600,000 through overfunding. There is a minimum investment of £10 to the crowdsale and will run until 8 November 2018 – the date may extend depending on investor demand.
For the crowdfunding campaign the company has a pre-money valuation of £8m. There is 3.61 per cent of LandlordInvest’s equity being deployed to investors for the sale, but it is unclear if this will increase if the company raises past its initial goal.
At the time of writing, the campaign had raised £89,000 following contributions of 24 investors.
LandlordInvest is a FCA-regulated P2P lending platform which helps users to invest into residential buy-to-let mortgages and bridging loans, from as little as £100. Through the platform, landlords can apply for a loan between £30,000 and £300,000, with no minimum income requirement.
Investors can earn between 5 to 12 per cent per annum across a variety of secured loans, according to LandlordInvest.
Launched in 2016, the company has helped lend £5.3m to landlords, and an average loan-to-value ratio reaching 63.76 per cent, according to the company.
The company will use the proceeds from the round to build upon its current growth, which will include the hiring of additional staff, refine its product for the intermediary market and boosting its technical resources.
LandlordInvest co-founder Joseph Vallender said, “This funding round will ensure that LandlordInvest can continue building on its phenomenal growth and provide our customers and the wider P2P community the opportunity to become shareholders in the Company and to be a part of our exciting journey.”
Earlier in the week, Aareal Bank acquired a strategic stake in real estate investing platform BrickVest for an undisclosed amount. The company is a pan-European real estate crowd investing platform, which allows users access to institutional-grade investment opportunities from as little as €1,000.
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