AssetAvenue, the leading online peer-to-peer lending platform to invest and borrow money in commercial real estate, announced today that it has raised $3 million in financing. Matrix Partners and NetEase led the round with additional technology, venture capital and real estate investors participating.
AssetAvenue will use its seed round financing to accelerate strategic partnerships with lenders, support the continued growth of its institutional and accredited investor base, and build on its proprietary lending platform.
‘We are thrilled to have such an incredible amount of investors supporting AssetAvenue’s mission to revolutionize the real estate investment industry by removing barriers that have traditionally prevented individuals from investing in commercial real estate opportunities,’ said David Manshoory, founder and CEO of AssetAvenue.
Investors include Matrix Partners, a global venture capital company responsible for supporting powerhouses such as Apple, Gilt Groupe, JustFab, Oculus VR and Zendesk; NetEase, one of China’s largest publicly traded internet and technology companies; Vectr Ventures, a Hong Kong-based early stage venture capital fund; and Russ Meyer, a private equity advisor and founding director of Grandpoint Capital;
‘AssetAvenue is the most compelling crowdfunding real estate platform available today,’ said Josh Hannah, General Partner of Matrix Partners. ‘The deep experience and clear focus of the management team in the real estate debt market sets it apart from competition and we believe that it will grow to become the largest player in the peer-to-peer commercial real estate lending market. ”
‘We are thrilled to partner with Asset Avenue as they continue to re-invent real estate financing,’ said Benjamin Ha, Managing Partner of NetEase Capital. ‘The real estate finance market has not kept pace with other consumer technology innovations, and we believe that David and his talented team are well positioned to set up a leading peer-to-peer commercial real estate lending platform. ”
AssetAvenue is led by CEO David Manshoory, an executive with more than ten years of proven success in start-ups and commercial real estate investment. His previous venture grew to more than 100 full-time employees within 15 months, raised over $11 million in investor capital, and generated almost $30 million in revenue in the first two years. The management team includes Adam Chapnick, Chief Strategy Officer, former Managing Director at Indiegogo and a world-renowned think-tank on crowdfunding; Kevin Arrabaca, President of Real Estate Investments, previously Managing Director and Officer of American Capital Realty and Colony Capital, with over 3,000 real estate assets; and Chris Ganan, President of Real Estate Investments;
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