CrowdProperty celebrates record August and £200m paid back to investors
CrowdProperty has reported its most successful month to date, as it celebrates having paid back more than £200m to investors.
The peer-to-peer development lending platform declared August to be a “significant milestone”, having lent £13.7m towards 24 projects with a gross development value of £96m. The loan volume is a 115 per cent year-on-year increase.
The company has paid back £202,725,175 to investors to date, with £3.3m paid out during the last week alone.
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“These latest milestones are testament to our investor proposition and have been achieved thanks to our team’s extensive asset class expertise, rigorous due diligence and the first charge security we put behind every CrowdProperty loan,” said Mike Bristow (pictured), chief executive of CrowdProperty.
“We are highly selective of the projects and developers we back and as a trusted provider of investment opportunities, we are proud to be continuously adding more and more of them to our platform every day.”
CrowdProperty offers first-charge secured development loans, with investor returns ranging from 10 to 10.5 per cent.
The platform has lent out £346m to date, funding 435 development projects.
CrowdProperty was recently named as one of the UK’s 100 fastest-growing companies by The Sunday Times with £6.1m in sales, and a three-year annual growth rate of 53 per cent.
“We are very much delivering on our mission to transform property finance and unlock the full potential of the critical SME property developer segment to build more much-needed, under-supplied homes,” added Bristow.“In turn, this will enable developers to grow their businesses more quickly while driving spend in the economy on labour, materials and services.
“With ongoing growth and a tighter market, we continue to demonstrate our ability to grow our share of applications for property development finance and facilities agreed. This puts us in a powerful position to scale our offering and further support housebuilding by SME developers.”