UK-based CapitalRise, a property lending and investment platform, has raised £2 million in seed funding. The investment came from from Raakhe Tandon, the daughter of banking entrepreneur Rana Kapoor.
CapitalRise is an online property financing platform that connects investors to real estate opportunities. The startup allows investors and institutions to invest in property opportunities starting at a minimum of £1,000. The investments are chosen by a team of experienced property professionals. Developments funded to date include central London properties in Eaton Square, Grosvenor Square, and the Strand.
CapitalRise also meets a wide range of financing needs for developers, offering both debt and equity funding, as well as handling complex transaction structures, and providing flexible terms for each project.
“This investment comes at the perfect time for CapitalRise," said Uma Rajah, CEO. "Over the past 19 months we have built our technology platform and proved our business model, having already paid out over £2 million back to investors. Our latest opportunity was fully funded in under two business days, witnessing, on average £730,000 of funding raised from our members each working day (with a waiting list of members ready to invest in our upcoming projects). This seed funding will underpin our next stage of growth, helping us to grow the team and pursue more opportunities for investors and developers alike.”
The round will allow for the expansion of the company's team and support new property investment opportunities in Central London and other locations across the UK.
“We are delighted to have partnered with CapitalRise," commented Raakhe Tandon. "The size of the market opportunity and quality of the management team, gives us immense confidence that CapitalRise will be a formidable platform for online crowd sourced property finance. We look forward to working with shareholders and management with a combined ambition of making CapitalRise highly successful and a leader in its field.”