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Young Entrepreneur

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YEC Member Company Patch of Land Raises $23.6M in a Series A Round

YEC member company Patch of Land recently raised $23.6M in a Series A financing round. Founded by YEC member Brian Fritton, Patch of Land is a peer-to-peer online marketplace for real estate crowdfunding.

This Series A was led by SF Capital Group (a private investment firm) and Ron Suber (president of Prosper Marketplace). President of SF Capital Group Neil Wolfson will now join the Board of Directors for Patch of Land.

The company, dedicated to building wealth and growing communities, matches trustworthy investors to borrowers looking for money to rebuild property around the U.S. Patch of Land uses technology and data to bring transparency and efficiency to private real estate lending by providing accurate risk profiles, project viability and reducing both the time and the cost of loan underwriting for borrowers.

Said investor and strategic advisor Rob Suber: “I have witnessed first-hand the emergence and growth of marketplace lending. Real estate is one of the fastest growing verticals within all of marketplace lending, and Patch of Land has emerged as one of the most disruptive and innovative companies.”

Read the full press release here.

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