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Karl Tomusk Having issued £120m of loans to SME housebuilders in the UK, CrowdProperty is expanding its international footprint to offer its P2P lending platform to new markets. The company said Australian developers face “very similar pains” to those faced by SMEs in the UK who struggle to secure financing for their projects. Since launching in the UK in 2014, CrowdProperty has funded the development of 1,400 homes. CrowdProperty Australia will be led by CEO David Ingram, co-founder of fintech startup Split It, a platform that helps consumers compare and sign up for household utilities and financial services. Ingram also has strategic advisory and operations exprience in a number of industries, including property, in both Australia and the UK. ....
External | what does this mean? This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. CrwodProperty launches in Australia Source: CrowdProperty The UK’s leading 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. ....
Property investment marketplace CrowdProperty has reportedly launched its Australia-based division in order to support property development in the country. David Ingram has been appointed as the Chief Executive for CrowdProperty’s business operations in Australia. CrowdProperty has issued over £100 million in loans to UK-based property developers. As noted in the announcement, CrowdProperty Australia will be run as a separate or independent business unit (and won’t depend on CrowdProperty UK). The new venture reportedly has its own local investors and board of directors as well. Mike Bristow, CrowdProperty UK CEO and CrowdProperty Australia board member, stated: “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.” ....
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