Equitymultiple, a San Francisco and NYC-based commercial real estate investment startup, raised $3m in funding.
The funding round was anchored by lead investor Ken Pasternak, a former Board Member of NASDAQ and founder of electronic trading firm Knight Trading, which he took public in 1998. Additional investors included a consortium of real estate and finance executives.
The company plans to use the funds to accelerate growth and innovation by scaling its team, expanding its investment offerings and enhancing its technology platform.
Led by co-founder and CEO Charles Clinton and co-founder and CIO Marious Sjulsen, Equitymultiple operates a “direct investing” platforms, powered by a combination of proprietary technology and institutional real estate investment expertise, which give investors access to professionally-vetted private investments across property types and risk profiles.
To date, individual investors have invested in over $700 million in commercial real estate transactions through the online platform and the company expects to top $1 billion later this year.
Total investment through the platform has more than doubled already in 2018.
The company was previously backed by Mission Capital.