Groundfloor, an Atlanta, GA-based wealthtech platform that allows everyone to build wealth through real estate, raised $118m in funding.
The mixed funding round included:
- $5.8 millionĀ in equity fromĀ Medipower, as well asĀ
- $7.2 millionĀ in equity from more than 3,600 individual investors via SeedInvest, andĀ
- $5.0 millionĀ in convertible notes from 86 individual investors via Groundfloor’s own platform.
Additionally, as part of the strategic partnership, in its first year Medipower plans to invest up toĀ $100mĀ via Groundfloor’s investment platform and up to an additionalĀ $220mĀ in the second year. Medipower’s ChairmanĀ Yair GoldfingerĀ will join Groundfloor’s board.
The company plans to use these funds to scale its operations, with a focus on customer acquisition and product development. Groundfloor is hiring another 50 new employees in 2022, to nearly double in size, while rolling out its second mobile app and expanding into dedicated markets. Already this year, Groundfloor announced plans to create a local lending footprint inĀ Jacksonville, FloridaĀ as the first of many local joint venture partnerships to come.
Founded in 2013 by CEOĀ Brian Dally, Groundfloor is an wealthtech platform that allows everyone to build wealth through real estate. Groundfloor was the first company qualified by the U.S. Securities & Exchange Commission to offer direct real estate debt investments via Regulation A for non-accredited and accredited investors alike. To date, Groundfloor has raisedĀ $41.8mĀ in funding from a variety of sources, including venture capital and online public equity offerings.
FinSMEs
21/02/2022