BLEND Network has partnered with a proptech firm to speed up appraisals so it can lend to developers faster.
The peer-to-peer property investment platform will use Aprao’s technology to assess developments.
Aprao claims its cloud-based software appraises sites 80 per cent faster.
Read more: Blend Network secures £10m of seed funding
“Blend Network is a leading platform that is making a positive impact in the property sector, helping to make real estate investment more accessible and also helping to address the UK housing crisis,” Daniel Norman, chief executive of Aprao, said.
“We are excited to be working with such a forward thinking and innovative business and helping them provide an even better service for their clients.”
It comes as Blend Network recently agreed to fund what constitutes its largest loan so far, a £3.6m gross development value project in Stafford.
Since its official launch in January 2018, Blend Network has lent juts under £10m to 34 projects across the UK regions including Northern Ireland and Scotland.
“We are very excited to partner with Aprao to enhance our borrower’s customer journey,” Yann Murciano, chief executive of BLEND Network, said.
“At Blend Network, our motto is you build, we fund as we focus on making your access to finance easier.
“Our partnership with Aprao further supports our borrowers by making the appraisal process as easy as possible.”