RealtyShares, a San Francisco, Calif.-based online marketplace for real estate investing, raised $10m in Series A funding.
The round was led by Menlo Ventures with participation from General Catalyst Partners. In conjunction with Menlo Ventures’ Managing Director John Jarve will be joining RealtyShares’ board.
The company will use the new funds to build and grow the team, expand its product and technology, and sign new partnerships.
Led by Nav Athwal, Founder and CEO, RealtyShares enables accredited investors (which can include individuals, family offices, and hedge funds) to invest alongside professional real estate developers and borrowers in order to participate in the $500B annual real estate investment market. Investors can purchase shares in properties for as little as $5,000 while developers and borrowers can raise capital for their real estate projects accessing to an alternative to banks.
To date, RealtyShares has already allowed thousands of investors from across the country to invest in hundreds of residential and commercial properties worth more than $300 million. These properties span 17 states, 60 cities and offer investors average returns ranging from 8 – 20%.
FinSMEs
08/04/2015