CrowdProperty (www.crowdproperty.com) is proud to announce that the business has now lent over £100,000,000 to SME property professionals.
CrowdProperty has now funded the development of more than 1,100 homes worth £200,000,000, enabling over £80m of spend on labour, materials and services in the UK economy.
CrowdProperty finances quality property projects being undertaken by quality property professionals. Projects are ready and able to proceed, with clear exit plans in liquid markets, delivering a quantum of units that is immaterial to proven local demand levels, at mainstream price points throughout the UK. Empowering the multitude of SME property development businesses which are key to delivering 'build, build, build', CrowdProperty is tackling the fundamental barriers behind declining SME developer housing output, unlocking the much needed delivering of new homes and spend in the UK economy.
As the UK's leading specialist property project online lending platform, CrowdProperty has proven to be a sustainable and reliable source of finance through the toughest of economic backdrops. As one of the only active development lenders throughout the COVID-19 pandemic, enabled by diverse sources of capital and a perfect lending track record since 2014, the business has been profitable since 2019 and profitable each and every month since lockdown began. CrowdProperty has seen strong growth in annual lending of 1,371% through the last 3 years and revenue growth of 1,019% through the last 3 financial years. Whilst profitable and robust, the business continues to invest in team, systems and processes to build deeper efficiency and effectiveness to support a much larger lending business vision, for which there is already huge demand.
Mike Bristow, CEO of CrowdProperty, commented: “Investor liquidity is higher than ever at CrowdProperty, bucking the trend of all investment classes and the alternative finance sector, as retail and professional investors look for the yield, quality and security that CrowdProperty has proven over many years.
As such, we’ve set most of our funding records since lockdown – funding 60 projects since then, each in an average of less than one minute on the platform, with three in as little as 12 seconds. All this is attracting more and more institutional sources of capital, which will be one driver of further growth (and providing the comfort for many investors that we’ve gone through months of institutional-grade due diligence numerous times), with those institutions only looking to work with the proven, highest quality players.
At the heart of the achievements to date is a passionate team of 32 with a great culture and a shared cause to solve pains on both sides of the CrowdProperty marketplace. This is just the start of our mission to unlock the power of SME property developers in this country to build more homes and increase spend in the UK economy, and to ever more efficiently and effectively match the supply and demand of capital for the benefit of all.
We’re on a trajectory to continue growing as rapidly as we have done, underpinned by a highly scalable, in-house built, proprietary technology platform, scalable capital sources and deep expertise in exactly the asset class being lent against, funding hundreds of millions each year.
We're working very hard behind the scenes on a number of major company developments which will be announced in the coming 2 to 3 months - watch this space.”