Money360, Inc. , an online marketplace / peer-to-peer (P2P) lending platform that directly connects commercial real estate borrowers with accredited investors, today announced that is has secured 110 million US$ to originate/purchase loans to borrowers through its online lending platform. The money was secured through a 100 million US$ loan purchase agreement and partnership with a leading New York investment firm that has pioneered online lending, as well as 10 million US$ in cash raised by Money360 through its wholly owned subsidiary, M360 Fund 1, LLC, from investors including investment banking executives and successful technology entrepreneurs.
The funding and loan purchase capacity comes at an ideal time, too, as more commercial borrowers than ever are using Money360’s online marketplace to find the best solution for their commercial real estate borrowing needs. Since re-launching in September 2014, the company has experienced significant growth with more than 150 million US$ in loan requests last month alone. Continue reading