P2PGI will be increasing its allocation to asset-backed loans in its investment trust; the firm will primarily focus on secured real estate loans however it will also be increasing its allocation to invoice credit lending and other secured lending investments; the increased focus on secured loans follows a previous announcement on targeting UK originated loans. Source
Real estate marketplace lender Better Mortgage has raised $15 million in a new funding round bringing its total valuation to $220 million; the funding was provided by Kleiner Perkins Caufield & Byers, Goldman Sachs Group Inc. and Pine Brook Partners; the firm seeks to offer fast approvals for home loans and uses advanced algorithms to match borrower attributes with lending criteria from 20 large home loan buyers; launched in January 2016, the firm has funded over $500 million in home loans and is targeting $1.5 billion in originations for 2017. Source
Knock has raised $32 million in a Series A funding round; the firm plans to launch an online real estate platform that will provide for greater real estate market liquidity; the firm will compete with OpenDoor and OfferPad also offering similar services; it's currently testing its platform investments in Atlanta, Georgia. Source
Vesta Equity is a home equity marketplace that allows homeowners to access their equity without borrowing while providing tokenized, residential real estate investment opportunities. And it works because of its owners’ faith in the future of blockchain technology and Web3.
According to CB Insights, real estate tech received $2.6 billion in funding in 2016 across 277 deals; the category is broad including companies providing technology to brokers, investors, lenders, mortgage providers, property owners, managers and buyers; given current run-rates total volume for 2017 is expected to increase; notable financings include Homelink, PropTiger, Placester, Knock, OfferPad and Nested. Source
Christian Faes, the CEO and Co-founder of UK property lender LendInvest, discusses tech, investment channels, the UK housing crisis, Brexit,...
Peer-to-peer platform Octopus Choice is estimating GBP50 million ($64.08 million) in loans in its first year of business; the platform offers loans secured on residential property with average returns of 4.2% and loan to value ratios of up to 70%; the firm's loans have ranged from GBP95,000 ($121,744) to more than GBP5 million ($6.41 million); the firm has been fully authorized by the FCA and has received its HMRC approval to offer an IFISA. Source
LendingHome will now offer an online mortgage product for consumers; LendingHome was launched in 2014 and has been funding short-term bridge and rental loans for property investors; the platform has funded over $1 billion in loans; features of the product include: an automated process, real time rates, loan guidance and real estate agent connectivity. Source
A new fintech startup based in London wants to make buying an investment property as easy as ordering something on...
HouseCanary is working to provide better real estate property valuations through its fintech services; uses machine learning and algorithms to analyze data and identify home values; the company has reported a funding round with $33 million in new capital from investors including Eric Schmidt and Kobe Bryant. Source