CrowdProperty, a specialist project lending platform, has received £300m in institutional funding.
The investment, which was supplied by an unnamed firm, is part of a five-year agreement. It claims the agreement will help it continue its growth efforts.
It claims to have hit a trio of lending records in May, with it lending £8.3m, paid back £7.5m and received $285m in funding applications from SME property professionals.
Launched in 2014, the UK-based company enables property professionals to access a range of loan options, with finance ranging from development through to refurbishment. Borrowers will have access to a property specialist to help them through the offer.
In addition to borrowing, property professionals can invest into projects through the CrowdProperty platform.
The company claims to help funded the development of 1,500 homes, worth £297m.
CrowdProperty chief executive Mike Bristow said, “Despite the fact that we’ve supported £300,000,000 of property projects to date, we are still relatively early on in fulfilling our potential in our mission of transforming property finance – to unlock the power of SME property developers in the UK to build more homes, increase spend in the UK economy and ever more efficiently and effectively match the supply and demand of capital for the benefit of all.”
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