CrowdProperty secures C$5.25m loan from Canada’s Flow Capital
CrowdProperty has secured funding from Toronto-based alternative asset investor Flow Capital to scale up its business.
Flow Capital, which specialises in providing flexible growth capital to tech and software-as-a-service-businesses, said it “is pleased to announce the successful closure of a C$5.25m (£3m) senior note” in the UK property development lending platform.
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“This capital infusion will help CrowdProperty accelerate its commercial activities, enhance the robustness of the technological infrastructure, and reinforce the foundation for sustained future growth,” Flow Capital added.
CrowdProperty was founded in 2013 and started lending in 2014, providing residential property development finance for SME developers. It has lent over £370m to date, repaying over £220m to investors with average realised returns of 7.96 per cent.
At the start of January, CrowdProperty reported its most profitable year to date in its latest annual results. The firm posted operating profit of £1.184m for the year ended 31 March 2023, up from £377,000 the previous year.