Fundrise, a Washington, D.C.-based real estate crowdfunding platform, raises an additional $7m in Series A funding.
The company has now raised $38m in the round, having announced a $31m close in May 2014 (read here)
Backers in the new tranche included Debbie Ratner Salzberg of Forest City, Terrence Rohan of Index Ventures, Onyx Equities co-founder Jon Schultz, Michael Gerwiz of Potomac Investment Properties, Artemis Real Estate Partners CEO Debbie Harmon, and Haniel Lynn of Corporate Executive Board.
The company intends to use the funds to further expand the platform throughout the United States.
Founded in 2010 by Ben Miller and Dan Miller, Fundrise is an online real estate crowdfunding platform which allows investors to access opportunities experience. The site has allowed lenders to invest in specific properties for as little as $100 per share, and as much as $10m, and earn returns (historically from 12% to 14%).
The company has offices in New York and San Francisco.
FinSMEs
26/09/2014