AssetAvenue
Real Estate Investment Loans.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor investor investor investor investor | €0.0 | round | |
$11.0m | Series A | ||
| Total Funding | 000k | ||
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AssetAvenue, launched in 2013, emerged as a key player in the real estate crowdfunding and lending sector. The Los Angeles-based firm was founded by David Manshoory, Kevin Arrabaca, and Chris Ganan with the objective of streamlining real estate financing for investment properties. Founder and CEO David Manshoory's background in real estate investment, where he managed over $250 million in transactions, directly informed the company's mission to address the inefficiencies he experienced with traditional lending processes. His co-founders also brought pertinent experience to the venture.
The company developed an online platform designed to connect accredited investors with pre-vetted real estate investment opportunities, initially focusing on commercial real estate loans for properties such as apartment buildings and retail centers. This peer-to-peer lending model enabled borrowers seeking capital for property acquisitions and renovations to secure loans more efficiently than through conventional banks. For investors, AssetAvenue provided access to a new asset class, offering passive income through debt investments in real estate with reported annualized returns between 8 and 12 percent. The platform managed the entire process, from borrower application and property underwriting to servicing the loan and distributing payments to investors.
AssetAvenue's business model centered on generating revenue through origination fees charged to borrowers and servicing fees. The firm distinguished itself by leveraging technology and data analytics to underwrite loans, which allowed for a faster and more transparent process, often funding loans in a matter of days. Significant milestones include securing a $3 million seed funding round in 2014, led by prominent venture capital firms DCM Ventures and Matrix Partners. By 2015, the company had facilitated over $100 million in loan requests and expanded its offerings to include single-family rental properties. Public records indicate the company was later acquired, though the platform as originally described is no longer active under the AssetAvenue brand.
Keywords: real estate lending, fintech, peer-to-peer lending, property investment, real estate crowdfunding, commercial real estate finance, online lending platform, investment properties, debt financing, accredited investors