AssetAvenue, a Los Angeles, CA-based online platform for commercial real estate loans, raised $11m in Series A funding.
The round was led by DCM Ventures with participation from existing investors NetEase and Matrix Partners.
The company will use the funds to further invest in its technology and proprietary lending platform with additional product developments, hire new people and increase its marketing and sales efforts.
Founded in December 2013 by David Manshoory, CEO, Kevin Arrabaca, President of Real Estate Investments, and Chris Ganan, President of Capital Markets, AssetAvenue is an online peer-to-peer lending platform offering bridge and transitional loans for commercial real estate such as office buildings, industrial properties, shopping centers, apartment complexes and luxury, non-owner occupied residential properties.
The company leverages its tech platform to provide bridge financing from $250,000 to $25 million per property. Qualified investors can participate in funding with as little as $5,000, or fund loans through its Whole Loan Program.