CrowdProperty has launched in Australia.
The peer-to-peer property lender aims to support Australian developers in the same way it has provided a non-banking alternative in the UK small- and medium-sized enterprise development market.
The team will be led by one of its founders David Ingram (pictured), who founded Split It, which provides technology for comparison websites.
“We know that property developers can spend up to six months waiting to secure finance for a project, with lenders often changing the terms of the loan at the very last minute,” Ingram said.
“CrowdProperty can take that process down to a matter of a few weeks, with no hidden fees nor surprises that plague more traditional funding options.
“Our solution matches investor capital more directly to the developer using it to add value, enabling greater returns, meeting the major needs of both sides of the marketplace.”
Other team members include chief marketing officer and co-founder Ian Bell, chief operating officer Tony Zulli, property director Daniel He and head of marketing and growth Jamie Millar.
CrowdProperty’s UK chief executive Mike Bristow will also sit on the board of the Australian business.
“The model that we have proven with great success in the UK is a perfect fit for the Australian market,” Bristow said.
“We’re a company founded by people who have long experience developing property and working in the finance sector, built entirely around the customer.
“At the heart of the business is technology for efficiency and expertise for effectiveness, delivering a better deal for all – borrowers, lenders, under-supplied housing markets and spend in the country’s economy.”
Read more: CrowdProperty makes raft of appointments