Lending Platform CrowdProperty Enters Australia’s Property Development Market

https://thefintechtimes.com/lending-platform-crowdproperty-enters-australias-property-development-market/
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The UK-based specialist property project online lending platform CrowdProperty has expanded its international footprint, announcing the launch of CrowdProperty Australia.

Leveraging the UK’s market-leading asset-class expertise, proprietary technology, and experience of growing the leading specialist platform in its space in the UK, CrowdProperty has launched in Australia to offer a non-bank lending alternative to the SME property development market, which faces very similar pains to those being solved by CrowdProperty in the UK.

“We know that property developers can spend up to six months waiting to secure finance for a project, with lenders often changing the terms of the loan at the very last minute,” comments CrowdProperty Australia CEO David Ingram.

“CrowdProperty can take that process down to a matter of a few weeks, with no hidden fees nor surprises that plague more traditional funding options. This gives developers working with CrowdProperty a significant advantage: firstly, they can move quickly when competing for good projects (which is what vendors want). Secondly, they’re working with property people providing property finance who understand their vision, are there to support throughout the project, and want to build a long-term partnership,” David continues.

“Our solution matches investor capital more directly to the developer using it to add value, enabling greater returns, meeting the major needs of both sides of the marketplace.”

David Ingram holds significant experience in the sector, with capabilities developed through a career in strategic advisory and operations spanning the property, fintech, and healthcare industries in both Australia and the UK. As co-founder and CEO of a PaaS marketplace for mortgages, insurance, and utilities, David has personally conceived, founded, and successfully exited an Australian fintech and is perfectly placed to drive CrowdProperty in Australia and realise the full potential of the international marketplace.

CrowdProperty Australia is additionally funded by a select group of domain-experienced investors in Australia, ranging from property development, property professionals, financial services, lending, fintech, technology, and marketing, completing the comprehensive picture of a very high potential launch.

“The model that we have proven with great success in the UK is a perfect fit for the Australian market. We’re a company founded by people who have long experience developing property and working in the finance sector, built entirely around the customer,” comments Mike Bristow.

“We intimately know the pain developers experience when trying to fund projects and have built a lending business to deliver speed, ease, and certainty of funding for these developers, who can spend up to a third of their time working to secure finance for their property projects. At the heart of the business is a technology for efficiency and expertise for effectiveness, delivering a better deal for all – borrowers, lenders, under-supplied housing markets, and spend in the country’s economy,” Mike continues.

“Since launching in the UK in 2014, we’ve funded over £250,000,000 of property projects by SME developers, constructing over 1,400 homes in the UK, and delivered a 100% capital and interest payback to investors. CrowdProperty is the UK’s leading specialist property project lending platform and we see the same potential in Australia for CrowdProperty, underpinned with all that experience.”

  • Tyler is a Fintech Junior Journalist with specific interests in Online Banking and emerging AI technologies. He began his career writing with a plethora of national and international publications.

https://thefintechtimes.com/lending-platform-crowdproperty-enters-australias-property-development-market/