PeerStreet allowsaccredited investors to crowdfund loans for real-estate projects around the country. Local real estate lenders source projects and send them to PeerStreet. The platform does its own due diligence and posts the loans for crowdfunding on its site. The company charges a 1% fee to investors and takes a portion of the origination fee charged to the borrowers.
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By many accounts, it is a tough time to raise venture capital for a marketplace lending business today, but PeerStreet has pulled it off. The platform for real-estate-backed loans got $15 million in a Series A round led by Andreessen Horowitz. PeerStreet takes a different tack from consumer lenders. The company allows investors to fund secured...
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