We have some exciting news on the development of CrowdProperty to share with you.
As you know, CrowdProperty is the UK's leading specialist property project lending platform. We are a profitable fintech/proptech online-lending innovator changing the game of property project finance, delivering a better deal for all – borrowers, lenders, the under-supplied UK housing environment and spend in the UK economy.
We were recognised by Deloitte as the #41 fastest growing tech business in the UK in their Fast50 2020 report and by the FT as the #132 fastest growing business in Europe in their FT1000 2021 report. In May we set lending (£8.32m), payback (£7.52m) and funding applications (£285m) records and then in June broke records again, initiating £16m of new facilities and lending £8.8m. We’ve now funded almost £300m of property projects, the construction of 1,500 homes, originated £180m of facilities agreed and lent £140m.
We’ve also launched in Australia, sit at the top table of the sector as a founding member of the Innovate Finance 36H Group with other leading marketplace lending businesses and built a very strong and passionate team of 44 and vastly experienced Board to take us to the next level. We have many exciting plans to further our mission to unlock the power of SME property developers throughout 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. You can see more about where we’ve got to in our video below:
Having step-changed all business metrics since our last equity fundraise in March 2019 and proven the profitability of the business model whilst still investing to grow, we’ve yet again proven that we can scale rapidly and add considerable value with equity capital investment. As a profitable and cashflow positive business, we can grow self-sufficiently but our Board has collectively agreed that raising equity capital again now can further step change the business. We have therefore just launched a new equity capital fundraise to realise our potential quicker and wanted to share this with you.
We are raising this in partnership with Seedrs again and it will be our third equity fundraise with the equity crowdfunding platform – we first raised in November 2017 (when we had lent a total of £10m), then in March 2019 (£31m) and now with £141m lent we’ve clearly demonstrated how we invest equity capital injections very effectively to drive growth. Having recently closed a £300m funding line from a new major asset manager to complement existing sources of capital through the platform, we have a very clear strategy in place to take the business to £400m+ lending per annum, catering for the strong demand from property professionals for our game-changing, customer-focused ‘property finance by property people’ partnership approach.
If you would like to view the equity fundraise campaign, you can do so here.