CrowdProperty has now funded over £600,000,000 of property projects, following a record-breaking September with over £14.3m lent to facilitate the construction of residential property developments by small and medium sized developers across the UK. As a result of this performance, lending for the quarter finished up 90% on the same period in 2021.
CrowdProperty has now supported the construction of a total of over 2,700 homes with £330m of facilities agreed, delivering on its mission to transform property finance to unlock the potential of small and medium sized property developers to build more much needed, under-supplied homes, helping them to grow their businesses quicker and drive spend in the economy on labour, materials and services.
Industry recognition of CrowdProperty’s performance and potential continues to grow: the business was selected for the latest cohort of Tech Nation’s FinTech 5.0 programme, which recognises companies transforming the finance sector (with Tech Nation programmes supporting 31% of UK Unicorns); has been named as a WIRED Trailblazer, which celebrates businesses that are harnessing technology and adopting innovative approaches; and ranked in the FT1000 list of fastest growing businesses in Europe for the second year in a row.
Mike Bristow, CEO of CrowdProperty, commented: “I’m incredibly proud of the team for the effort and determination that has gone into achieving our latest milestones: Q3 2022 has seen fantastic, record-setting performance from the business as a whole, in terms of both lending and new facilities started on both volume and value bases. We’ve originated more than £130m in the last 12 months – and our conversion-weighted pipeline is now double what it was this time last year, as we continue to reliably support our customers to build more homes through diverse capital sources and deep property expertise. Together we build.”