Online P2P platform Money360 announced it has secured $110 to originate and purchase loans to borrowers through its platform. A New York investment firm is responsible for $100 million through a loan purchase agreement while Money360 raised the remaining $10 million through its wholly owned subsidiary M360 Fund 1 LLC, with technology entrepreneurs and investment banking executives among the investors.
Since relaunching last September, Money360 has seen solid growth, including more than $150 million in March loan requests.
“We are delighted to be working with this new investment firm and providing all of our investors
with legitimate investment opportunities, which have continually proven to yield higher returns
at lower risk than traditional investment vehicles,” said Dan Vetter, President and Co-founder of
Money360. “The real estate peer-to-peer lending market presents an excellent opportunity for
both investors and borrowers alike, as it allows them to bypass traditional bank loan models. We
are grateful for the opportunity to continue to showcase the value and benefits of using this
lending model for both parties.”