AssetAvenue, a Los Angeles, CA-based online peer-to-peer lending platform to invest and borrow money in commercial real estate, raised $3m in funding.
The round was led by Matrix Partners and NetEase with participation from Vectr Ventures, Russ Meyer, Bam Ventures, and Launchpad LA.
The company intends to use the funds to accelerate strategic partnerships with lenders, continue to grow its institutional and accredited investor base, and build upon its proprietary lending platform.
Led by David Manshoory, founder and CEO, Adam Chapnick, Chief Strategy Officer, Kevin Arrabaca, and Chris Ganan, AssetAvenue is an online peer-to-peer lending platform providing accredited and institutional investors with the opportunity to invest in fixed income loans secured by commercial real estate, while providing property owners and lenders with access to capital to fund their deals.
It partners with lenders and borrowers to source loan investment opportunities up to $10m and offers these opportunities to qualified investors in amounts as low as $5k.