Patch of Land

crowdfunding platformscrowdfunding

FOUNDING YEAR: 2013
LOCATION: United States
Last Update: 17/07/2020

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About

Patch of Land is a private money lender offering real estate investors nationwide fast and reliable financing on Fix & Flip, Multi-Family, Commercial, Ground-Up and Rental properties.The company was a pioneer in the real estate crowdfunding space and operates an online portal that allows accredited investors and institutional investors to participate in private real estate debt with low minimum investments and high-yield returns on loans secured by a first-lien position. For more information please visit PatchofLand.comBuilding Wealth. Growing Communities.

MEDICI Analysis

Patch of Land aims to solve the problem of slow, inefficient, fragmented and obscure private real estate lending by using the latest technology, data and process efficiency to more accurately assign risk profiles and project viability, while greatly reducing time and cost of loan underwriting for borrowers with real estate projects that are overlooked or rejected by banks and traditional lenders.

Focus

PRODUCTS & SERVICES

Patch of Land provides a peer to real estate marketplace for crowdfunding, where it matches investors and lenders seeking alternative fixed income opportunities to borrowers seeking alternative sources of financing for their real estate investment needs. It serves borrowers across U.S. by connecting them to lenders and investors across the world.

REVENUE MODEL

Revenue earned from loan origination and processing.

MAIN CLIENTS

Retail real estate lenders and Borrowers

PRIMARY PROBLEM SOLVED

Enabling real estate developers to get loans from investors across the globe through crowdfunding approach. Also, providing a high return on the loan value to the investors.

COMMENT

Patch of Land makes it easy for real estate developers to get funds for their projects in form of crowdfunded loans, with all technology and data driven due diligence of assessing risk and credit worthiness. Investors get high returns on their investments.

People

BOARD MEMBERS AND ADVISORS

Carlo Tabibi

NUMBER OF EMPLOYEES

51-200

INVESTORS:

Catalus Capital

Patrick Gannon

Ron Suber

SeedInvest

SF Capital

SF Capital Group

KEY EMPLOYEES:

Brian Fritton(CTO); Jason Fritton(CEO)

Carlo Tabibi

Jason Fritton

Momentum

FUNDED

YES

TOTAL FUNDING

$24.8 M

DATE OF LAST FUNDING

Apr 2015

SEED & PRIOR FUNDING

$1.2 M

SEED CLOSED ON

Sep 2013

FUNDING SERIES

SERIES A  · $23.6 M  · Apr 2015

DEBT FUNDING

$125 K

LISTED

NO

COMMENT

Debt funding: 30.125 M(June 2017) and Conventional Debt: 99.7 M(Nov 2017).

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