PropTech CapitalRise launches funding round
Written by Hannah McGrath
PropTech firm CapitalRise has launched its first equity crowdfunding campaign on Seeders.
The London-based startup has developed a digital property crowdfunding platform that connects prime real estate developers with investors.
Launched in 2016 by the founder of real estate design and development firm Finchatton, CapitalRise says it has already reached its initial campaign target of £1.5 million during a private funding round, which secured funding from almost 300 individual investors.
CapitalRise will use the funds raised to expand its team and invest in the marketing required to achieve its £100 million target of total lending, the next major milestone for the business.
To date, the company claims to have lent over £25 million against over £270 million of prime property assets in locations such as Mayfair, Knightsbridge and the Home Counties, with £1.6 billion of loan enquiries generated in the past six months.
Uma Rajah, co-founder and chief executive at CapitalRise, said he was looking forward to joining with fellow crowdfunding platform Seedrs to drive growth in the business. “Whilst this raise will be used to expand the business, this year we are also looking to write increasingly bigger ticket loans.”