Thursday, March 23, 2023
HomePeer to Peer LendingCrowdProperty to launch fourth funding round on Seedrs

CrowdProperty to launch fourth funding round on Seedrs

CrowdProperty is set to launch a fourth equity fundraising round on Seedrs, to support its “mission to transform property finance”.

The peer-to-peer property development lender last raised money on the equity crowdfunding platform in August 2021. It raised £1.8m on Seedrs from 793 investors, surpassing its £800,000 target.

CrowdProperty has raised a total of £3.9m in equity capital, following a £1.1m fundraise in March 2019 and £900,000 back in November 2017.

The latest Seedrs fundraise has not yet gone live, but investors can register for priority access.

Read more: CrowdProperty reaffirms commitment to retail investors

CrowdProperty said on the Seedrs website that it had “step changed the business after each of the previous three raises”.

The Birmingham-based firm has agreed £359m of first-charge secured facilities to date, representing 51 per cent growth in the past 12 months.

It has repaid £168m to institutional and private investors at an average return of 8.07 per cent.

Read more: CrowdProperty hikes investor rates

“With £649m of property projects funded, CrowdProperty is on a mission to transform property finance to unlock the potential of property developers to build much-needed and under supplied homes,” the company said on the Seedrs website.

CrowdProperty reported a second consecutive year of profits in its latest annual financial results, with an operating profit of £147,035. The platform said that it expects to post another profit next year.

Chief executive Mike Bristow said in the annual results that the business would proceed with caution during the recession, but still sees plenty of opportunities to lend and grow in the coming year. He said at the time that he hoped to expand the CrowdProperty team and raise further equity capital.

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