Technology

Groundfloor is named to Deloitte’s Technology Fast 500 List for the second straight year – Yahoo Finance

Summary

In Q3, the wealthtech platform continued to grow at a record pace, achieving $74.3 million in investment activity

ATLANTA, Nov. 18, 2021 /PRNewswire/ — Groundfloor, the wealthtech platform that allows everyone to build wealth through real estate, is pleased to announce that it is once again among the fastest growing technology companies in the country. Today, Deloitte revealed that Groundfloor is on its Technology Fast 500 List, which recognizes the most innovative and fastest-growing …….

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In Q3, the wealthtech platform continued to grow at a record pace, achieving $74.3 million in investment activity

ATLANTA, Nov. 18, 2021 /PRNewswire/ — Groundfloor, the wealthtech platform that allows everyone to build wealth through real estate, is pleased to announce that it is once again among the fastest growing technology companies in the country. Today, Deloitte revealed that Groundfloor is on its Technology Fast 500 List, which recognizes the most innovative and fastest-growing private tech companies. This marks Groundfloor’s second consecutive appearance on Deloitte’s Fast 500 List, and comes on the heels of another record-breaking quarter for the wealthtech platform. In Q3, Groundfloor achieved $74.3 million in investments, a 21% increase compared to the previous quarter and a 67% increase over Q3 2020. Groundfloor’s newest product, the mobile app Stairs, is also achieving early success, already surpassing $13 million in investments in its first two months.

Logo (PRNewsfoto/GROUNDFLOOR)

“This honor is a tribute to the mass market retail investors who continue to drive our growth as they pour an increasing share of their capital into alternative investments,” said Groundfloor co-founder and CEO Brian Dally. “The early traction with our new mobile app, Stairs, indicates how hungry investors are for flexible, short-term, high-yield offerings. We look forward to continuing to innovate with more to come for the benefit of non-accredited and accredited investors alike.”

Additional Q3 momentum for Groundfloor includes:

  • Releasing 250 loans for funding, resulting in a quarterly record $40.4 million in investments.

  • Issuing over $22.3 million in repayments on 137 properties to investors and $27.0 million in Groundfloor Notes repayments for a total of $49.3 million.

  • Posting a weighted average net annualized return of 9.6% on loans repaid in the quarter net of a loss ratio of just 0.8%.

  • Growing our investor base by nearly 17,000 investors to reach 130,000 total registered users.

  • Surpassing $185 million in year-to-date investment volume and $500 million all-time. In total, Groundfloor has repaid $385.3 million with a yield of 10% since its inception.

  • Securing additional industry recognition from the Inc. 5000 list of fastest-growing companies, Benzinga’s Global Fintech Awards, Atlanta’s TiE Growth and Impact Awards and certification as a 2021 Great Place to Work.

Groundfloor was founded in 2013 by Dally and Nick Bhargava, who helped to author the JOBS Act of 2012. At the time, Groundfloor was an unknown company with a new concept in a new category. It became the very first issuer qualified by the Securities and Exchange Commission to offer real estate debt investments to accredited …….

Source: https://finance.yahoo.com/news/groundfloor-named-deloittes-technology-fast-141900951.html