Despite high interest rates, platform revenue grew 25% with launch of several new alternative real estate investment products
ATLANTA, Feb. 7, 2024 /PRNewswire/ — Groundfloor, the award-winning alternative investment platform with over $1 billion in investment and repayment volume, is announcing another year of growth and innovation. Last year, amidst high rates and housing market headwinds, the company launched multiple first-to-market products providing investors more options to invest in real estate backed alternatives than ever before. As a result of its new product launches, including the Groundfloor 3.0 auto-investing app, the company grew year-over-year revenue by 25 percent to $26.5 million. To date, Groundfloor has now surpassed $1.3 billion in retail investment volume and $1.1 billion in investor repayments, underscoring the continued appeal of fractionalized investing.
“Self-directed individual investors trust Groundfloor as a source of sensible alternatives to public market securities,” said co-founder and CEO Brian Dally. “Our ten-year track record of delivering high yields with low volatility and unmatched liquidity in single family residential real estate continues. Fractionalization outperforms funds in every way, and now it’s expanding into new use cases and new positions in the capital stack to offer investors more choice and better returns for less risk than ever before.”
Additional momentum for 2023 included:
- Surpassing $1.3 billion in retail investments and $1.1 billion in repayments to retail investors since inception
- Amassing 245,000 registered users since inception
- Receiving $384 million of investments through the Groundfloor platform
- Repaying $330 million to investors across all investment products
- Financing 983 loans across the country for real estate developers
- Growing by 10.2 percent in assets under management to $323 million
- Launching Groundfloor Notes for non-accredited investors and innovative new products via Labs by Groundfloor including fractionalized equity, property cashflow advances, and index funds
- Introducing the Groundfloor 3.0 Auto-Investor account, now available via a new mobile app
As a result of the company’s growth and continued innovation, Groundfloor won several awards. The company was named to the Inc 5000 List for the fourth consecutive year as well as being on the Deloitte Technology Fast 500, while also being acknowledged as an Atlanta Business Chronicle Pacesetter and one of Built In Atlanta’s Best Places to Work.
Groundfloor plans to continue scaling in 2024, with plans to hire for a wide range of product development and operational roles locally in Atlanta and remotely.
To learn more about Groundfloor and begin investing, visit Groundfloor.com or download the apps on the Apple App Store or Google Play.
About Groundfloor
Groundfloor is an award-winning fintech company that levels the playing field in financial markets for individual investors. Known for its regulatory prowess and developing completely new financial products for alternative investing, the company was the very first to be qualified to offer direct real estate debt investments for both accredited and non-accredited audiences alike. The company has won numerous awards for its product innovation and growth, including four years in a row of being on the Inc. 5000 List. Since it launched in 2013, Groundfloor’s investors have consistently seen 10% annualized returns across its short-term investment offerings. For more information or to get started investing fractionally in real estate, visit Groundfloor.com.
Media contact:
Hela Sheth
678-938-1318
[email protected]
SOURCE Groundfloor Finance Inc.
