Realty Mogul, a platform for crowdfunding real estate transactions, pulled in $35 million in funding early this week. This Series B installment is the company’s fifth round of funding since it was founded in 2012, bringing the total to $45.1 million.
Canaan Partners, the leader of Realty Mogul’s Series A round, participated in this year’s round, which was led by existing investor, Sorenson Capital.
For buyers, Realty Mogul offers debt financing of up to $1.5 million for residential properties and $25 million for commercial properties. It also has a commercial property equity option for up to $5 million. Additionally, the platform caters to both accredited retail investors and institutional investors.
Since launch, the California-based company’s platform has been used to furnish $80 million in funding for 250+ properties worth a total of $500 million. In the past year, Realty Mogul has added 70 employees and plans to hire more. In fact, the company will use the new funding to bolster its technology and data team to better analyze deals and risk.
Realty Mogul debuted its crowdfunding tool for real estate at FinovateSpring 2014 in San Jose. Check out the live demo video below.