CrowdProperty approaches £1m interest milestone

CROWDPROPERTY investors have now earned almost £1m from lending through the peer-to-peer property platform.

The development finance provider said on Thursday that lenders have earned £867,091 of interest and £9.2m in capital repayments since it launched in 2014.

“We have always had a single-minded focus on being brilliant at efficiently matching and securing capital in the property development sector, providing a better deal for both property professionals and lenders,” Mike Bristow, chief executive of CrowdProperty, said.

“We have built robust systems and processes over many years and continue to develop the business for this sole purpose, forever building stronger and deeper expertise.

“This focus is paying off with our 100 per cent track record and a pipeline of quality projects for our growing lender base that has never been stronger.”

It comes after the Birmingham-headquartered property lender became the ninth platform member of the Peer-to-Peer Finance Association last month, joining Funding Circle, Zopa, Lending Works, ThinCats, Folk2Folk, Landbay, Crowdstacker and MarketInvoice.

CrowdProperty, which recently underwent a rebrand, has lent out more than £20m over the past four years.

The firm raised £907,467 via Seedrs in November 2017 to expand its proposition.

Read more: CrowdProperty funds £925,000 project in under 10 minutes