Real Estate Crowdfunder Realty Mogul Raises $9 million In Series A.
One of the largest online marketplace for investor to pool money and buy shares of investment properties, known as Realty Mogul, has announced today that it has managed to secure over $9 million Series A round led by Canaan Partners. The company had recently celebrated their very first anniversary of successfully raising and placing their commercial real estate investment capital, have also funded properties with over a total of more than $100 million in value through its Realty Mogul crowdfunding platform.
“Our goal is to bring the $11 trillion commercial real estate market into the 21st century,” said Jilliene Helman, CEO and co-founder of Realty Mogul. “Canaan’s backing will help us to enable thousands of investors to have an easy, transparent way to diversify their portfolio into commercial real estate by crowdfunding opportunities previously only available to a select few.”
The company provides investors with tools to search through investments, conduct through concentration, invest online and track the performance of said investment during anytime of the day through an online investor dashboard. Realty Goal enables authorized investors to pool funds to invest in real estate through their very own platform. To become and authorized investor, a user must need to have an income of at least $200,000 per year or an amount of net worth of $1 million.
Once the investor has been verified, they shall be given access to Realty Mogul’s commercial and residential real estate listings. Once the submission has been placed of the amount to invest, the person will be notified when the total amount has been fulfilled and will be given continuous updates on the property, along with any resulting distributions.
“Realty Mogul will be the next disruption in a massive asset class just like LendingClub has been for the consumer credit market,” said Hrach Simonian, principal at Canaan Partners and Realty Mogul board member.
Currently, investor involved with Realty Mogul marketplace have invested over $14.6 million in 58 properties in 14 states. Based on these statistics of properties, number of states and the volume of capital placed by the company, Realty Mogul has managed to become one of the largest real estate crowdfunding marketplace on the web. Just last year alone, Realty Mogul subsidized over $1.5 billion in real estate.