Online commercial real estate marketplace lender Money360 is finishing 2015 in style.
In a release the platform announced the additions of Jonathan Barlow and John Maute to its board of directors.
Mr. Barlow founded Eaglewood Capital Management and served as CEO of the asset management firm which specializes in online and marketplace lending investments. He also contributed to the P2P Global Investments IPO, the first publicly traded peer-to peer investment vehicle. Mr. Barlow has worked for Lehman Brothers and J.P. Morgan and was appointed to Crowdnetic’s board in September.
Mr. Barlow sees a huge opportunity in real estate.
“We have seen a surge in marketplace lending across a range of sectors and yet the commercial real estate industry, which is one of the largest lending sectors in the country, remains largely untapped in this arena. Money360 has assembled a seasoned team of commercial real estate experts who understand the underwriting and due diligence process to lay the foundation to achieve scale in this industry.”
Mr. Maute brings more than three decades of experience to Money360. One founder of special servicer Helios AMC (now Situs Holdings) before its sale to Stone Point Capital, Mr. Maute helped grow the firms holdings beyond $4 billion. Earlier in his career he held a senior position at GMAC Commercial Mortgage.
Money360 said Mr. Maute will help the platform build out and institutionalize its back-end operations.
Mr. Maute believes Money360 has the pieces in place to be a top marketplace lender.
“Marketplace lending is still a relatively young industry, and Money360 is well-positioned to capitalize on it. While having a strong technology base is imperative in this industry, it is only one piece of the puzzle in the real estate sector. The Money360 team not only has the technology necessary to succeed, but also has significant experience in building thriving commercial real estate enterprises.”
The pair were the only two funders behind Money360’s recent $2.5 million Series A round. The funds are earmarked for infrastructure and national growth.