LOS ANGELES, Calif.–October 04 2017– PeerStreet, a marketplace for investing in real estate backed loans, is excited to announce that they have surpassed over half a billion in loans funded with zero losses to investors since its official launch less than two years ago. This announcement comes after many other milestones, including monthly origination volume now surpassing $50 million.
For context, the company launched to the public less than two years ago and this time last year had funded approximately 300 loans, representing about $100 million. To date, the company has funded well over 1,200 loans and growth has been fueled by an increasing investor appetite for this asset class.
PeerStreet achieved this level of production after developing features and integrations to improve experiences for both investors and lenders alike. Most recently, PeerStreet launched a new dynamic loan status page that allows investors access to real-time transparency into the servicing of their loans. PeerStreet has also implemented integrations with Betterment, Wealthfront and Personal Capital to allow investors to view their PeerStreet investments within the context of their broader investment portfolio.
“While we are excited about the growth, this is just the beginning of our journey to transform the industry,” says Co-Founder and CEO, Brew Johnson. “Our goal remains the same as when we started: to level the playing field between Wall Street and Main Street by providing access and transparency to a market that had previously thrived on opacity.”
“Along with the ongoing growth in our business, I am incredibly proud of the culture and team we have built,” adds Brett Crosby, Co-Founder and COO. “We’ve found amazing talent across all divisions of the business and were recently honored to be named one of the Top 5 Startups To Work For in Los Angeles.”
This year alone, PeerStreet has been recognized as a CB Insights FinTech 250 company and won numerous awards including the LendIt Emerging Real Estate Platform, the Fintech Breakthrough Award for the Best Overall Peer-to-Peer Lending Platform, and as a finalist for The Benzinga Global FinTech Awards. The company has attracted high-profile investors including Andreessen Horowitz, Felicis Ventures, Rembrandt Venture Partners, Montage Ventures, ThomVest, The Kaiser Family Foundation, Colchis Capital, Toba Capital, Le Frak, and many notable individuals such as Dr. Michael Burry, Adam Nash, and Ron Suber.
ABOUT PEERSTREET
PeerStreet is an award-winning, Andreessen Horowitz-backed platform focused on democratizing access to real estate debt. The company provides investments in high-yield, short term, real estate backed loans. PeerStreet’s unique marketplace allows investors to diversify their capital in an asset class that has been traditionally difficult to access. Loans are sourced and curated from vetted private lenders throughout the United States who have local real estate expertise and borrower relationships. The PeerStreet model allows for more borrowers to access capital and improve their local communities, one house at a time. PeerStreet’s platform is secure and intuitive with an easy-to-use interface, offering a wealth of information and tools for every level of investor.
The company is led by former real estate attorney Brew Johnson, former Google executive Brett Crosby and Y Combinator alumnus Alex Perelman.
