Real estate investment marketplace Groundfloor has had a successful week, with the announcement of its partnership program following the launch of its Labs initiative at the Blueprint Conference. The company recently exceeded $1 billion in investments on its platform and is now focused on accelerating growth through the Labs partnership program.
Labs, which was introduced in beta earlier this year, currently manages $10 million in assets. The program aims to support partner entrepreneurs in developing new concepts and enables them to quickly bring financial products to market by accessing an established audience of alternative investors.
According to Brian Dally, co-founder and CEO of Groundfloor, the company has a strong track record of launching and scaling new alternative investment concepts for individual retail investors over the past decade. With the launch of Labs, Groundfloor is not only offering its wide investor base, but also its regulatory, underwriting, and asset management expertise to entrepreneurs who share their vision. This collaboration aims to empower millions of investors with better tools for building wealth compared to traditional public market securities.
Two companies had already participated in Labs before its public launch. Nectar, a provider of cash flow advances to experienced operators of short-term rental properties, has already received funding for 43 deals, amounting to over $5 million in 2023. Discount Lots, on the other hand, offers financing to land investors and has received funding for 12 deals worth more than $500,000 in its first month on Groundfloor.
Derrick Barker, co-founder and CEO of Nectar, expressed the value of partnering with Groundfloor, stating that they always believed their product would appeal to individual investors. The collaboration with Labs has proven their assumption, and the new source of capital has already made a significant impact on their growth. They are looking forward to expanding their collaboration further.
With the success of Labs and the growing number of partnerships, Groundfloor is poised to continue its rapid growth and further solidify its position in the real estate investment market.
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