GROUNDFLOOR Doubles Year Over Year Revenue
Fintech company continues rapid growth and receives numerous accolades
ATLANTA, April 16, 2019 /PRNewswire/ -- GROUNDFLOOR, an investing and lending platform that allows anyone to invest fractionally in real estate, is today announcing its Q1 results and momentum. Despite the government shutdown of the U.S. Securities and Exchange Commission for 35 days, GROUNDFLOOR still experienced 123% percent non-GAAP Q1 revenue growth compared to the prior year Q1. In addition, the company won numerous awards based on its product innovation and business results. To date, GROUNDFLOOR remains the only company qualified by the S.E.C. to offer direct real estate based debt investments to non-accredited investors.
Additional Q1 momentum for GROUNDFLOOR includes:
- Achieving a 166% increase in unit volume for loans closed in Q1 '19 vs. Q1 '18
- More than doubling loan application volume for Q1 '19 vs. Q1 '18 (121% increase)
- Selling more than $14.5M in real estate investments to retail investors on the platform
- Surpassing more than 60,000 registered users
- Eclipsing $100MM in loans to real estate developers to-date in more than two dozen states
- Expanding product offerings, such as new construction loans and a fixed annualized notes product returning 5 percent on a 90-day term
- Launching a second online public offering to purchase stock in GROUNDFLOOR directly
Lastly, GROUNDFLOOR was recognized for several awards based on its innovation and company growth including:
- Received a "Top Deal" stock buy designation from Equity crowdfunding rating service, KINGSCROWD, a distinction reserved for deals selected into the top 10% of companies in their due diligence funnel
- Recognized as a TAG Top 40 Georgia-based technology company for innovation and financial impact
- Honored as the best crowdfunding platform with the Fintech Breakthrough Award
- Won the Technology Association of Georgia's Fintech ADVANCE Award for having demonstrable results that helped the financial industry move forward through innovation
- Named an Atlanta Business Chronicle Pacesetter Award Finalist as one of the top 100 Georgia companies demonstrating rapid financial growth based on annual revenues
- Both CEO Brian Dally and the company were listed as one of Atlanta Inno's 50 on Fire recipients for contributing to the Atlanta innovation ecosystem
GROUNDFLOOR's 2019 stock sale remains open to the public. Any GROUNDFLOOR account holder can still invest in the online public offering by visiting groundfloor.com/stock.
About GROUNDFLOOR
Founded in 2013 by Brian Dally and Nick Bhargava, GROUNDFLOOR opens private capital markets to all. GROUNDFLOOR was the first company qualified by the U.S. Securities & Exchange Commission to offer direct real estate debt investments via Regulation A for non-accredited and accredited investors alike. Today, it remains the only product offering a customizable real estate debt portfolio for short-term, high-yield returns. For real estate entrepreneurs, GROUNDFLOOR offers borrower friendly loan terms like a deferred payment option to give developers more control over their cash flow. The company is headquartered in Atlanta and has raised $13.8M in equity capital. While anyone in the country can invest in GROUNDFLOOR with as little as $10, the company focuses its lending in 30 states.
MEDIA CONTACT:
Hela Sheth
GROUNDFLOOR
[email protected]
SOURCE GROUNDFLOOR
Share this article