Real estate fintech firm closes $3bn in loan transactions

by Candyd Mendoza26 Nov 2019

PeerStreet, a platform for investing in real estate-backed loans, has announced making more than $3 billion in loan transactions as of last month.

The announcement followed the news of PeerStreet’s $60 million Series C funding round last year along with a $4.25 billion in new capital commitments.

The company said that its year-over-year growth in loan volume has more than doubled every year since its 2015 launch – hitting its first billion within three years. PeerStreet attributed the growth to several factors, including the company’s technology, products, and proprietary platforms for investors and lenders, as well as integrations with many finance companies.

Additionally, PeerStreet said the growth is also a result of its product expansion, which now includes long-term real estate debt through a new Residential for Rent program, loan document generation software (PeerStreet DocGen), and the incorporation of more loan types into its Automated Investing feature.

“While we’re excited about what we’ve accomplished so far, the mortgage finance industry is one of the largest financial markets in the world, so we have a long way to go before we fulfill our mission,” said Brew Johnson, co-founder and CEO of PeerStreet. “What’s most gratifying is that our business model has demonstrated that the more we grow, the more value we can create for investors, small lending businesses, and borrowers. We’re excited to keep this value creation and momentum going far into the future.”