GROUNDFLOOR, the first and only real estate lending marketplace open to non-accredited investors, announced that the company has closed a $5 million Series A round led by Fintech Ventures. Previous investors also participated in the round, bringing the company’s total financing to $7.5 million to date.
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“We’re bullish on GROUNDFLOOR because they are delivering a new, mass-market financial product to an untapped investor class,” said Serguei Kouzmine, managing director, Fintech Ventures Fund. “The Fintech market is a global phenomenon, which reaches far beyond both Silicon Valley and the United States; therefore, people should not be surprised that innovation in this market comes from many corners, and Atlanta is one of the hottest.”
“The investment from Fintech will accelerate every facet of our business,” said Nick Bhargava, EVP and co-founder, GROUNDFLOOR. “We’re on a mission to establish a new and better option for household capital formation by opening the $70 billion private real estate lending market to everyone. This round is a critical milestone on that path.”