The House Crowd hits £50m fundraising mark in record quarter
Hale-based property crowdfunding platform The House Crowd has hit a £50m fundraising milestone after a record start to the year in which it raised more than £15m in under six months.
The House Crowd was the world’s first property crowdfunding platform, and now serves upwards of 15,000 investors.
The milestone comes weeks after Manchester-based The House Crowd raised £600,000 in five hours on its St Thomas Road loan project, which offered investors 8% yield over a fixed six month period at 63.2% LTV.
Founded in 2012, The House Crowd has grown at over 100% a year in each of the last two years, providing a range of investments secured against property to suit different investor risk profiles and objectives.
Its achievements include:
-Paying out over £10million in returns to investors
-Opening a new London office at Level 39, Canary Wharf
-Successfully funding 307 property investments
-Growing its website members to 15,000
-Increasing staff numbers from an original team of 3 to 24
Frazer Fearnhead, CEO of The House Crowd, said: “Today investors are facing uncertainty on an unprecedented scale. Traditional buy-to-let is now unviable for most individuals, interest rates are woefully low and look to stay low for considerable time. Also, the stock market is a gamble few can afford to take.
“No wonder people are turning to property crowdfunding to take control of their own finances, spreading their risk across a diverse range of investment products. This includes property-backed peer-to-peer loans that can provide fixed returns of 8-12% in under 12 months.
“I have no doubt the confidence we’re seeing from investors in our service will continue to grow, as alternative finance takes the place of less attractive, traditional investment options.”
