CapitalRise, the specialist prime property finance platform, announced the completion of its 2020 Seedrs raise, with over £2m raised from investors.
The platform took part in the fundraising round to access the Government-backed Future Fund, which has now been finalised. Following a surge in demand in 2020, CapitalRise plans to use the additional funding to expedite growth, expanding its product range and team.
Since inception in 2016, CapitalRise has provided funding against £456m of prime real estate assets and remains the only dedicated prime property finance provider for developments in London and the South East. During that time, CapitalRise has also returned over £34m to customers on the platform, at an average rate of 9.5% p.a. with no investment losses or defaults.
Last year CapitalRise closed ten multi-million-pound loans, funding assets worth almost £120m GDV across prime locations such as Chelsea, Notting Hill and Holborn. 2020 was an outstanding year for the business, with significant increases in demand from both investors and developers. The platform hopes 2021 will be another record-breaking year.
Uma Rajah, CEO and Co-Founder of CapitalRise, commented: “I would personally like to thank everyone who has become a CapitalRise investor and I look forward to sharing future successes with you as we grow the business. The huge demand of investors in the CapitalRise business has been incredible, and the success of this fundraise is a fantastic start to 2021.
“The prime property market remains resilient in the face of uncertainty with experts anticipating growth across this year – as is evident in the continued demand for our services. The funds raised will allow us to capitalise on demand, scale our successful business and continue to provide high-quality service to both new customers and developers on our platform.”
Clement Bigot, Investment Manager at Seedrs said: “We’re delighted to see CapitalRise’s popularity as one of our most successful raises on the Seedrs platform. I’d like to congratulate the team on an outstanding result. As the 14th largest raise on Seedrs in 2020, CapitalRise raised more than double their original target within weeks of launching the raise. This marks another successful Future Fund campaign conducted through Seedrs, and we’re proud to be able to support businesses during these unprecedented times.”