Real Estate peer-to-peer lending manager raises $18.2M

September 30, 2019
Share this Post: 

South Korean startup, Tera Funding, which managers peer-to-peer (P2P) lending for real estate developers, has announced it has raised a total of 22 billion won (approximately $18.2 million) in a series B funding round from multiple participants.

New investors in the round include KB Investment, Hana Ventures, Industrial Bank of Korea, Union Investment Partners and Woomi Construction.

Of them, Seongnam-based construction firm Woomi has formerly invested in prop-tech startups Zigbang and Spacewalk.

The round was also joined by existing investors SBI Investment, Atinum Investment and Redbadge Pacific.

“Tera Funding is an alternative means to raise funds by developers of small and midsized residential areas, instead of conventional lenders,” said Lee Ji-ae, Director of KB Investment who led the round. “We highly valued (Tera Funding’s) robust growth, revenue model and potential to improve the real estate value chain.”

Tera Funding has offered provincial home builders loans at around 10 percent interest rate, an alternative to loan sharks.

Read more here

Join us November 12-15 for the Property Portal Watch Conference Madrid 2019.

Property Portal Watch Madrid Summit 2019

September 30, 2019

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Fotocasa Madrid Buildings
Fotocasa Launches Travel Time Search Tool

The Spanish real estate portal Fotocasa has launched a tool that lets its users search for properties by the time...

Read More
Shutterstock 1965375514 1
Zillow's Listing Pages Get Biggest Overhaul in Five Years

The market-leading U.S. real estate portal Zillow has announced a redesign of its listing pages. According to a press release,...

Read More
Shutterstock 1743401084
CoStar's OnTheMarket Acquisition: Tebb to Remain CEO, Shareholder Questions the Deal

The latest news to come out of Costar's expected acquisition of UK agent-owned portal OnTheMarket has raised a couple of...

Read More
Shutterstock 2200544553
Financial Services Specialist BetterHome Group Increases Shareholding in South African Portal Private Property

The BetterHome Group has increased its shareholding in the South African real estate portal Private Property. According to a report...

Read More

Editor's Pick