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What does PeerStreet do?
PeerStreet, is a leading marketplace for investing in real estate backed loans. This crowdfunding platform provides investors an easy access for high yielding loans which are collateralized with real estate. The company provides accredited investros that chance of investing in short term and mid term real estate loans directly, along institutional and big lenders with individual investments starting from as low as a thousand bucks. This company charges one percent off the interest payments from the loans provided and sends the rest 99% to City National Bank accounts where investors can withdraw their money from the FDIC insured accounts.
How much PeerStreet was funded?
The company raised $15M in Series A on November 17, 2016 from Montage Ventures, Kaiser Family Foundation, Rembrandt Venture Partners and Andreessen Horowitz.
Previous funding
$6.1M announced on August 17, 2015 and closed on March 4, 2015 from Felicis Ventures, Harrison LeFrak, Guggenheim Partners, Montage Ventures, Rembrandt Venture Partners, Toba Capital, Vinny Smith, Adam Nash and Michael Burry.
What is next for PeerStreet?
The company has significantly expanded its national footprint, working with over fifty lenders and offering investments across half the nation. The company plans on using the latest funding raised for further executing on their goal of building a world class investment platform for real estate debt.
More about PeerStreet
PeerStreet was founded in 2013 by Brett Crosby and Brew Johnson. It has its headquarters in Manhattan Beach, CA. The company applies technology and big data in a special way which both enhances lenders abilities for selling and purchasing loans, and also creating a seamless investment experience which connects directly the end investors to loans. This company is using marketplace dynamics for fundamentally transforming real estate finance. Their approach benefits the total ecosystem by providing a lot of transparency, control and access to mortgage finance.
