Frazer Fearnhead

The House Crowd surpasses £100m fundraising milestone

The House Crowd has revealed that more than £100m of capital has been invested through its platform.

Frazer Fearnhead, CEO at the House Crowd (pictured above), said he was overjoyed to have passed the £100m milestone mark.

“It shows that our investors have confidence in our mission to deliver reliable, consistent returns on property-backed investments — and it’s a sign of the progress we’ve made as a company over these last few years.”

The P2P lending company has started work on several development projects across the North West via its development arm House Crowd Developments.

This includes a £15m development in Altrincham in which phases one and two raised £3.75m for purchase and initial constructions costs.

The scheme is scheduled for completion in Q3 2020 with further fundraises to be launched every quarter to cover ongoing construction.

The platform is also raising funds for Chapel Walks, which involves the conversion of an existing period building into 14 apartments.

The House Crowd has already purchased the site, with construction scheduled to start this month.

The two developments have a combined GDV of over £20m, while the target return for investments in each is 10% pa for investors.

“These developments highlight how far we’ve come in just a short time,” Frazer added. 

“They’re the kind of projects that show exactly why it’s so important that platforms like ours exist.  

“It’s always been assumed that property investment has a high barrier to entry — but with P2P property lending there’s ample opportunity for everyone to benefit from high returns with good security. 

“The UK is in the midst of a housing crisis, and we are providing much-needed housing, while helping people to build their financial futures effectively.”

The House Crowd has also launched an Innovative Finance Isa and auto-invest service.

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