CrowdProperty has secured a £300m institutional funding line to back its peer-to-peer property loans.
The funds have come from an unnamed “major investment manager.”
CrowdProperty chief executive Mike Bristow (pictured) said the deal is a five-year agreement that complements CrowdProperty’s existing sources of capital.
The funds will be lent on the same terms as retail investors.
“Investor liquidity is higher than ever due to the deep property expertise, high quality origination, 100 per cent capital and interest payback track record and trusted brand built since 2014,” he said.
“This is naturally attracting more and more institutional sources of capital looking to work with the most proven, highest quality players with deepest asset class expertise and market-leading track records.
“Platform lenders can rest assured that our team, processes, systems, controls and governance have met the highest possible institutional standards.”
Bristow said CrowdProperty’s pipeline currently stands at more than £322m, putting it on track to provide more than £400m of lending per year by 2024.
The platform also secured a £100m institutional funding line from a “major financial institution” in 2019, which it said would enable it to fund larger projects and originate more opportunities for retail investors.
It was revealed last week that CrowdProperty is planning a third fundraising campaign on Seedrs.
The lender is listed among the projects coming soon on the equity crowdfunding platform.