Today we are pleased to announce that we have raised $29.5 million in a Series B funding round and that we have funded over $900 million in loans. Since opening our doors to the public in 2015, we’ve been working hard to democratize access to real estate debt. This round of funding helps us further our mission and invest in the areas that matter most to our lenders and investors.
The raise will accelerate our growth and allow us to broaden the type of real estate loans we cultivate from our network of lenders. The Series B round was led by World Innovation Lab. Existing investors Andreessen Horowitz, Thomvest, Colchis Capital, Felicis Ventures, and others participated along with new investors, Solon Mack and Navitas Capital. The funding will also support our efforts to hire more world-class talent.
This funding round follows another year of high growth for PeerStreet. Just last May we announced $300 million in loans funded. We’ve more than doubled volume from the previous year and are on track to continue that growth trajectory. PeerStreet is now integrated with three prominent personal finance platforms including Wealthfront, Betterment, and Personal Capital. We have also significantly enhanced our suite of tools and analytics for lenders over the past year and released an innovative short-term investment product for investors seeking greater liquidity.
We are excited to share this news and some new milestones we’ve recently achieved. Most recently, we have been honored with a number of industry awards recognizing our culture. Not only were we named one of the Best Startups to Work For in Los Angeles, but we were also recognized as one of the Best Fintechs to Work For.
We are thankful for the incredible support our community has shown us since our launch and are excited for what’s ahead. Come join us on our journey as we pursue our goal of reshaping real estate finance for the better!
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