CAPITALRISE has exceeded its £1.5m target on its first equity crowdfunding campaign, raising £2.27m in just three weeks.
The Seedrs fundraise attracted 723 individual investors from 42 different countries, who together hold 8.57 per cent of equity, valuing the business at £18.25m.
The online property investment platform said on Friday that it will use the funds raised to expand its team and invest in marketing activities, in order to scale up the business and reach its £100m cumulative lending target.
“We are overwhelmed by the influx of investor support generated through our Seedrs fundraise, both from our new shareholders who clearly believe in CapitalRise’s ability to disrupt the prime property lending and investing market, and from the significant number of new members who’ve signed up to become a part of our community,” said Uma Rajah (pictured), co-founder and chief executive at CapitalRise.
“With new loan enquiries continuing to pour in and clear investor demand for asset-backed investments offering high returns potential, it’s an opportune time to accelerate the growth of our platform thanks to this additional firepower.
Read more: CapitalRise secures £2m seed funding from Indian family office
“Our expansion will be driven primarily through writing 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 and competitive edge in the prime market.”
CapitalRise specialises in providing funding for high-end property projects, particularly in Prime Central London. In February it made its largest loan to date, a £6.9m facility to finance the redevelopment of a property in London’s Holland Park.