NEW YORK, May 16, 2016 /PRNewswire/ -- Propellr, LLC (www.propellr.com), an alternative investment platform that caters to institutions, family offices and accredited investors, has closed its first round of outside financing. Propellr raised $1.6 million through a convertible debt offering that was limited to a small group of long time investors who actively participate in transactions financed through the platform. Concurrently with the financing, Propellr Securities LLC successfully obtained a broker dealer license from FINRA.
Proceeds from the raise will be used to expand the company's business development, compliance and engineering teams. This round comes on the heels of a major milestone for the platform. In April, Propellr Securities, LLC, a wholly owned subsidiary of Propellr, LLC, became registered as a broker-dealer with the SEC and FINRA. Rather than using a third party, a vertically integrated broker-dealer will allow Propellr to independently increase the volume of offerings on its platform while granting access to new investors and maintaining a best practices culture with respect to compliance and investor security.
"We are seeing impressive traction for our platform," said Todd Lippiatt, Founder and CEO. "Alternative investing is going through a significant transformation driven by new regulations, consumerism and technology," said Mr. Lippiatt. "We help enable this transformation by empowering institutions and individuals to make informed investment decisions with access to meticulously curated opportunities. Propellr's singular focus to date has been to build an exceptional platform for high quality investment opportunities. Now that we have the critical pieces in place, we believe it's the perfect time for us to open the door to new investors and issuers." Mr. Lippiatt added, "We've taken the last two years to build an impeccable track record all the while making vast improvements to our technology and operations."
By working with high quality sponsors, investment opportunities offered on Propellr have achieved an average net return of 17.3% since inception. The platform has successfully helped successfully finance 20 transactions, raising over $50 million with a total capitalization of $480 million. While currently focused on real estate investment opportunities, Propellr is in the process of rolling out multiple innovative alternative asset classes previously limited to a select few.
About Propellr, LLC
Propellr, LLC provides small institutions, family offices and accredited investors with direct access to alternative investment opportunities typically only available to institutional investors. Powered by a user-friendly interface, Propellr curates high quality issuers, supplying them with innovative technology to market their opportunities directly to investors. Visit www.propellr.com or follow Propellr on LinkedIn.
The information contained in this release is for information purposes only and should not be construed as an offer to sell securities. Nothing in this press release should be construed as an investment recommendation or investment advice. Offers to sell securities can only be made through official offering documents that contain important information about the investment and the issuers, including risks.
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SOURCE Propellr, LLC