PeerStreet, a Los Angeles, CA-based marketplace for investing in real estate backed loans, raised $15M in Series A funding.
The round was led by Andreessen Horowitz with participation from The Kaiser Family Foundation, Rembrandt Venture Partners, Montage Ventures and others. In conjunction with the funding, Alex Rampell, general partner at Andreessen Horowitz, will take a seat on PeerStreet’s board.
The company intends to use the funds to grow operations.
Led by Brew Johnson, CEO, and Brett Crosby, COO, PeerStreet operates a marketplace for investing in real estate backed loans applying technology and big data to enhance lenders’ abilities to purchase and sell loans. Launched in October 2015, it has funded over $165m in loan investments and returned more than $50m to investors.