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Peer2Peer Finance News | July 21, 2019

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CapitalRise looks to build on £1.5m crowdfund raise

CapitalRise looks to build on £1.5m crowdfund raise
Marc Shoffman

CAPITALRISE has raised more than £1.5m in a private crowdfunding round on Seedrs and is now looking to attract more funds.

The peer-to-peer property lending platform – which had been running a private fundraising with pre-registered investors – has now put its crowdfunding campaign live to all Seedrs users.

It had raised £1.56m as of Monday morning (11 March).

The proceeds will go toward building its technology and developing its marketing, compliance, loan origination and investor relations.

To date, CapitalRise has lent more than £25m against in excess of £270m of prime property assets in locations such as Mayfair, Knightsbridge and the home counties.

Read more: CapitalRise closes its fastest ever funding round

Read more: Four key considerations when investing in property

“This fundraise will allow us to build on our success and give many existing CapitalRise investors the opportunity to purchase equity in the company they have helped grow,” Uma Rajah (pictured), co-founder of CapitalRise, said.

“We’re humbled by the show of support already received from our community, and now look forward to introducing the business to an even wider audience of crowdfunding investors through the Seedrs platform.

“Whilst this raise will be used to expand the business, this year we are also looking to write increasingly bigger ticket loans, whilst ensuring we never compromise on the quality of assets we lend against, so that we can maintain our impressive track record.

“We’re very excited to be working with Seedrs, who are highly respected in the equity crowdfunding space. As a fellow crowdfunding platform, we’re confident that Seedrs are a great partner for us and we look forward to a positive response from their member base.”

Meanwhile, asset-backed lender Ablrate finished its £350,000 Crowdcube fundraising campaign at 149 per cent over target on Friday.

Read more: CapitalRise unveils IFISA ahead of new property deal