RealtyShares Crowdfunding Platform Raises $20M
Less than a year after closing a $10M round of financing, RealtyShares just pulled in $20M in another round of financing. The crowdfunding platform offers a mix of preferred equity and mezzanine products, fix-and-flip loans, JV equity and commercial loans alongside its capital partners—but only to accredited and vetted real estate investors, TechCrunch reports.
Since its 2013 launch, RealtyShares has raised over $130M for more than 1,600 properties. But this newly raised $20M will be used to market a new diversified equity fund targeting institutional investors, focusing on properties valued at under $50M. CEO Nav Athwal says investors are under-serving this market, and he plans to change that, continuing his company’s growth in the process. [TechCrunch]
