CrowdProperty is delighted to announce that the business has now funded over £500,000,000 of property projects, following a record-breaking May with funding across £42,000,000 of facilities for the construction of residential property developments by small and medium sized developers across the UK.
CrowdProperty has now funded the construction of 2,363 homes worth £503.2m with £277m of facilities, delivering on its mission to unlock the potential of small and medium sized property developers to build more homes, drive spend in the economy on labour, materials and services and grow their businesses quicker.
These latest achievements round off a busy 3 months in which CrowdProperty announced its partnership with FIBA (the Financial Intermediary & Broker Association) as part of its expanding distribution strategy; launched CP Capital, a second charge mezzanine finance product for property developers; marked a year since the launch of CrowdProperty Australia and set lending records in 2 of the three months.
The business has also received recognition from the wider market - ranking in the FT1000 list of fastest growing businesses in Europe for the second year in a row, named as a finalist for PropTech Innovator of the Year at the Property Awards and Highly Commended by the British Bank Awards in the category of Best Alternative Finance Provider.
Mike Bristow, CEO of CrowdProperty, commented: “With an average project Gross Development Value (GDV) of £3.1m over the last 3 months, CrowdProperty continues to exceptionally support experienced property developers in their funding needs with our unique ‘property finance by property people’ positioning, and as a result is growing at an exceptional rate. This rapid growth is only achieved by serving customers exceptionally, underpinned by a highly scalable, in-house built, proprietary technology platform, scalable diverse capital sources and deep expertise in exactly the asset class being lent against, ready to be operating at orders of magnitude larger than current funding levels.
At the heart of the achievements to date is a passionate team of 55 (with an additional 9 in Sydney) with a great culture and a shared cause to solve the pains of funding for property developers that is holding back much-needed housebuilding, especially from small and medium sized developers. This is still just the start of our potential in our mission to unlock the power of SME property developers in the UK and further afield to build more homes, increase spend in the UK economy, and to ever more efficiently and effectively match the supply and demand of capital for the benefit of all. Together we build.”
Find out more about how we can help with your project funding needs - apply in just 5 minutes at www.crowdproperty.com/apply and our passionate team of property experts will share their insights and initial funding terms for your project within 24 hours.