Commercial real estate marketplace lending platform Money360 has surpassed $200 million in closed commercial real estate loans, the company announced today.
The milestones are coming faster. After taking more than 18 months to hit the $100 million plateau, Money360 took less than six months to get to $200 million and expects to reach $500 million before 2018.
“This is a time of phenomenal growth for our company,” Money360 founder and CEO Evan Gentry said. “We are seeing a rapid expansion of our loan portfolio and increasing interest from investors. But amidst this rapid growth, we remain committed to maintaining the highest standards of credit quality and being good stewards of the capital our investors have entrusted us to manage.”
The achievement comes on the heels of a string of recent announcements. Money360 recently added Prosper Marketplace president Ron Suber as an investor and strategic advisor. One of the funds managed by affiliate M360 Advisors successfully registered with the South Korea Financial Supervisory Service. Money360 also established two regional divisions in the Northeast and Northwest.
“The impressive growth of our platform shows that marketplace lending is a much-needed innovation that is filling a void in the commercial real estate industry,” Mr. Gentry said. “Money360 is leveraging the benefits of technology and helping to meet the needs of a shifting landscape.”