Property investment platform, Sourced Capital, has announced that it has received direct authorisation from the FCA and acquired Peer Funding Limited, a peer-to-peer business platform.
Sourced Capital, a wholly owned subsidiary of the Sourced Group, said that gaining approval from the FCA is a “significant milestone” for the business which launched in 2019.
The move will help the platform to increase funding lines to the Sourced Franchise network of property developers, which has doubled in size over the past 12 months. It will also enable the company to develop new products for investors to diversify their investment portfolios.
Sourced Capital provides asset-backed property development investment opportunities to high net worth (HNW), corporate and institutional investors, and will continue to increase funding for residential property developments in the UK with a specific focus on sustainable housing.
The platform only funds property development projects from Sourced Franchise, its exclusive network of property developers, meaning all borrowers are directly connected to the Sourced Group.
“We have gone from proof of concept to directly authorised and approved by the FCA in a relatively short period of time,” commented Sourced Capital commercial director, Derek Pratt. “With our sister company Sourced Franchise doubling its network over the past 12 months, there is unprecedented demand for our funding services.
“This, coupled with a strong appetite from our ever-increasing investor base, means we are well positioned for growth in 2022 and beyond.”
He added: “We want to make property investment more accessible and easier for investors, and we are doing this through Sourced Group’s unique property ecosystem which provides holistic services to property developers and challenges traditional property market approaches through expertise and innovation.”
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