LOS ANGELES--(BUSINESS WIRE)--PeerStreet, a marketplace for investing in real estate backed loans, is pleased to announce that it won first place in CRETech’s 2019 Real Estate Tech Awards (RETAs for the Information & Intelligence – Crowdfunding category.
PeerStreet was chosen for its unique business model: a two-sided marketplace for investing in real estate debt that is both the first of its kind and the largest. The PeerStreet marketplace sources short-term real estate loans from a nationwide network of vetted private lenders; PeerStreet then aggregates those loans to bring greater diversity and higher volume to world-renowned financial institutions and thousands of individual investors. PeerStreet’s technology platform provides participants in the marketplace with unprecedented transparency and access to this asset class.
“PeerStreet’s vision is to align the interests of everyone in this ecosystem—from lenders and investors to borrowers and the communities they represent—by providing both easier access to real estate debt and empowering participants to make better decisions,” said Brett Crosby, COO and co-founder of PeerStreet. “Winning a RETAS is great validation to our entire team that the work we’re doing is transforming this industry for the better.”
For the past six years, CRETech’s RETAS recognizes the year’s most innovative and cutting-edge companies that have played an integral role in advancing tech in the real estate industry. Winners are selected by an elite panel of judges, including the leading venture capitalists, angel investors, corporate investors, and thought leaders in the real estate tech industry.
This win comes at an exciting time for PeerStreet, as the company has recently expanded its product offerings into long-term real estate debt through a new Residential for Rent program and incorporated more loan types into its Automated Investing feature, which now boasts a low $100 minimum for small-balance reinvestments. PeerStreet has had over $2 billion transacted on the platform and more than $1 billion in assets under management to date.
PeerStreet is an award-winning investment platform that democratizes access to real estate debt investments. The company’s unique technology-driven marketplace enables accredited investors to diversify their capital in a fixed-income asset class that had previously been difficult for individuals to access.
Residential and commercial property loans are sourced from vetted private lenders throughout the United States who have regional real estate expertise and long-term borrower relationships. PeerStreet enables these lenders to expand their lending capital, empowering them to make more loans, which flows through to borrowers who in turn improve their local communities—one house at a time. Backed by noted venture capital firms including Andreessen Horowitz, PeerStreet was founded in 2013 and has had over $2 billion transacted on the platform as of March 2019.
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