CrowdProperty Australia has launched a seed round with crowd-sourced equity platform Birchal to expand its borrower base and increase its marketing activity.
The peer-to-peer lending platform is seeking an undisclosed amount from retail investors to build on its success Down Under.
“The purpose of our equity campaign with Birchal is to raise funds to fuel our continued growth in Australia — specifically, to expand our borrower team and increase our marketing activity,” the platform said in a blog post to investors.
“It’s also to meet investors who are familiar with a marketplace platform. Our shareholders have a unique opportunity to help support the growth of CrowdProperty by also registering on our platform and investing in project loans.
Read more: Freedom Finance launches Lender Performance Index
“The more investors we have, the more certainty of finance we can provide to our borrowers, and the more sorely needed homes we can help build.”
CrowdProperty Australia launched in May 2021. Earlier this year it extended the availability of its loans to retail investors for the first time, in a move it described as “democratising financial access to short-term real estate development debt.”
All of CrowdProperty Australia’s project loans are secured by first mortgage, and retail investors can earn up to 8.5 per cent per annum. The minimum initial investment in a new project is AUS$2,500 (£1,305) and $500 after that.
Birchal is accepting expressions of interest from would-be investors until Monday 19 June.
Read more: Invest & Fund: P2P lending has proven its resilience
