PeerStreet plans to use proceeds from the Series C round of funding to hire more employees and scale its marketplace. That means adding more lenders, expanding the number of investors and continuing to build out the technology and automation for lenders. It's also working on technology aimed at improving the entire process. “Our vision is to open the asset class to as many people as possible,” said Crosby. “Historically it was quite complicated and complex.”
According to PeerStreet, 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.
PeerStreet is named #1 in the "Information & Intelligence" category for crowdfunding companies in 2019.
Congratulations to Rachel Croessmann for being recognized as the Rising Star of 2019 for Geraci Media Group. Read the full article at the link.
“Perspective: gaining it, expanding it and challenging it has always been a key difference maker for me. It is what allows me to be calm under pressure, or try to achieve longer term results when faced with immediate problems.”
"The accredited investor definition effectively categorizes the vast majority of American citizens as less than equal, shut out from many investment opportunities, including platforms like ours.”
Government regulations today are not inclusive for small individual investors. The accredited investor definition effectively categorizes the vast majority of American citizens as less than equal, shut out from many investment opportunities, including platforms like ours.
PeerStreet has been named as one a finalist for the category "Best Alternative Investments Platform."
In the past decade, real estate has shifted from being at the center of a crisis to an era of innovation, having undergone massive changes in how the industry functions.
A Comparably survey asked employees to rate their leaders, starting from the C-Suite and working down to direct managers. Based on anonymous responses over a one-year period, Comparably created a list of the best leadership teams in companies across the United States.
Comparably’s annual Best Leadership Teams 2019 represents the best management teams as rated by their employees. The award winners are segmented into two ranked lists: Top 50 management teams from large companies (more than 500 employees) and Top 50 management teams from small/mid-size companies (less than 500 employees).
The winners have "have very clear visions as leaders. They are empathetic and take in the feedback of their teams. They set very clear goals, and they are hitting and exceeding those goals," Nazar said.
PeerStreet hired nearly 100 employees in the last year, and along with that hiring push it has taken a more active role in promoting and supporting diversity and inclusivity on its teams.
Some of the most successful companies in the world today are two-sided marketplaces: Consider those which are household names, such as Amazon, Uber and Airbnb, as well as niche power players, like Zenefits, Upwork and Seamless. All have had a disruptive impact within their respective industries.
“We are currently experiencing great demand from investors of all stripes, including institutional investors, and we are lucky to be able to bring someone of Deepa’s caliber on board to manage this growth,” said Brew Johnson, co-founder and CEO of PeerStreet.
According to a release from PeerStreet, Wall Street veteran Deepa Salastekar has been appointed as the Vice President of Institutional Sales. Salastekar has a hefty resume when it comes to traditional and innovative finance.
This past March, PeerStreet, a real estate crowdfunding platform, announced that it had topped $2 billion in transactions and over $1 billion in Assets Under Management. Three months early in January, that transaction stood at $1.7 billion.
If you go to Groundfloor, you've got commercial real estate. Residential real estate. There are a lot of these companies. CrowdStreet, PeerStreet, and OurCrowd that are not early stage venture capital focused.
PeerStreet, a platform for investing in real-estate backed loans, has completed a system integration with Liquid Logics’ loan origination software platform. The move is in line with PeerStreet’s mission to build a stronger, more modern and more transparent marketplace for private lenders and accredited investors.
“Investors do not want to be locked up in a 30-year loan,” Crosby told Inman, adding that they are not likely to put the loan out directly to retail customers. “Now we can allow borrowers to access more capital both through our existing lender base and through our new lender bases.”
"If you look at the large companies list, you see that they are driving toward using AI, automation and machine learning," said Jason Nazar, CEO and Founder of Comparably. "Their core business is at the forefront of a massively changing tech industry."
“We’re very excited to be expanding our marketplace by offering Residential for Rent loans. This is a natural progression for us as a company as we increase our volume of transactions with institutional investors,” said Brew Johnson, Co-Founder and Chief Executive Officer of PeerStreet. “Our move into this asset class is important to continue to support the growth of our private lending partners and help them better serve their borrowers.”
Because of the product’s long-term investment opportunity, PeerStreet said it is currently offering it to its pool of institutional investors who have an appetite for this asset class.