Patch of Land operates an online crowdfunding marketplace that matches borrowers and lenders for short-term residential and commercial real estate loans. The company focuses on real-estate debt investments and was an early mover to offer prefunded loans, shortening developers' wait times for capital. Patch of Land emphasizes technology, data-driven underwriting, and human review to create transparency and efficiency between slow banks and inconsistent hard-money lenders. It has grown a portfolio of short-term loans across the U.S. and is described as one of the biggest issuers, by volume, of 506(c) real estate debt investments. The company raised an oversubscribed $23.6 million Series A and plans to use the proceeds to increase market share, invest in its technology and data systems, and hire additional real estate and technology professionals. Patch of Land is developing an online crowdfunding platform for real estate investments that allows investors to choose individual properties to fund and diversify across many different asset classes and risk profiles. The company was founded in early 2013 by Jason Fritton and is based in Los Angeles, CA. It raised $1.2M in funding from a private Los Angeles firm. Patch of Land intends to use the funds to refine and launch its platform. The financing is presented as general funding in the article; no specific instrument type or revenue/user metrics were disclosed. The company’s immediate focus is on completing product development and bringing the platform to market.

Total raised

$25M

Funding rounds

2

Latest round

Series A

Latest activity

Apr 2015