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
hela@katalystcomms.com
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SOURCE GROUNDFLOOR