Privlo, a Culver City,CA-based online provider of private real estate loans for high-quality borrowers, raised a $3.8m seed plus round of funding.
The company, which has also received up to $350m in debt capital from a multibillion dollar New York-based private real estate investment fund, will use the funds to expand its online lending platform to serve borrowers across the United States.
Led by founder Michael Slavin, Privlo operates a peer-to-peer lending platform, matching individuals who are seeking loans with individuals who want to make direct loans to borrowers. The solution also features proprietary scoring software to accurately evaluate each individual’s financial picture.
The company is hiring.