Groundfloor, an Atlanta, GA-based real estate lending marketplace open to non-accredited investors, closed a $5m Series A funding.
The round was led by Fintech Ventures with participation from previous investors.
The company, which has raised $7.5m to date, intends to use the funds to scale lending operations, hire in strategic regions and develop new investor tools.
Founded in 2013 by Brian Dally and Nick Bhargava, Groundfloor provides a real estate lending marketplace open to non-accredited investors in nine jurisdictions nationwide.
The company has funded 54 loans and sold over $3 million in Limited Recourse Obligation securities to date.