A development finance search engine used by lenders such as CapitalRise, CrowdProperty and LendInvest has helped borrowers secure almost £50m of funding in its first six months.
Brickflow lets developers search for finance from a range of lenders such as banks and peer-to-peer lending platforms.
It has helped arrange £47.6m-worth of loans in its first six months of operation for 15 borrowers, supporting the delivery of 220 (208 residential and 12 commercial) units.
There are 26 lenders on the platform and Brickflow says it can help complete the development loan application process in six weeks rather than the industry standard of six months.
“Once they’ve completed a search, borrowers are invited to build a project appraisal on the platform and when completed, it’s published on Brickflow,” Ian Humphreys, co-founder and head of lending, at Brickflow, said.
“Lenders that are the closest match are invited to review the appraisal, bid on the project and submit their best loan terms.
“There’s a single onboarding process, supported by online tools to build borrowers’ profiles and showcase their experience and projects.
“This information is only sent to lenders that match borrowers’ requirements, making it easier for lenders to find the projects that they want to fund, saving huge amounts of time for both parties.
“Our mission is to open up the market and empower borrowers and their advisers – offering them the quickest and easiest way to secure trusted finance.”