An Atlanta-based fintech lending startup that also offers investors access to invest in real estate debt announced a financing round Thursday.
What Happened
Groundfloor raised $4.2 million in a Regulation A online public offering.
Why It Matters
Groundfloor said it democratizes access to real estate investments, offering non-accredited investors the chance to fund real estate projects. The company said in a press release that 98 percent of its over 50,000 registered users are non-accredited investors.
What’s Next
The company said in a press release that the Reg A round brings its total fundraising for the past two years at $6.2 million, and said it's posted 64-percent year-over-year revenue growth. Groundfloor also said it has funded more than $75 million in real estate projects.
“We launched Groundfloor five years ago to level the playing field in capital markets for the benefit of individual investors and independent real estate entrepreneurs,” CEO Brian Dally said in a press release.
“This new round of operating capital is already accelerating our growth by enabling us to continue reaching more borrowers and broadening investors’ opportunities to diversify.”
To meet thought leaders and the hottest fintech startups in person, be sure to grab your tickets to the BZ Summit before they sell out.
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