AssetAvenue co-founder Chris Ganan (snapped at the firm's launch party) tells Bisnow the company funded about $24.2M in loans in the second half of 2014, beating its expectations, which were $10M for the whole year. Chris says the focus for 2015 is on originations. The platform, which was launched last year, raised $3M in seed funding in September with Matrix Partners and NetEase. We explain real estate crowdfunding to you here.
The company was co-founded by CEO David Manshoory, who tells us the strong finish was fueled by a strong and diverse investor base. The company says it experienced 16x growth in loan funding from Q3 to Q4, with loans in major markets across six states ranging in size from $175k to more than $5.6M.
