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GROUNDFLOOR Closes $1 Million Seed Funding, Establishes Headquarters in Georgia

GROUNDFLOOR Closes $1 Million Seed Funding, Establishes Headquarters in Georgia

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Published by: Crowdsourcing.org on Aug 21, 2014
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08/21/2014

 
 August 19, 2014 09:00 AM Eastern Daylight Time
 ATLANTA--(BUSINESS WIRE)--GROUNDFLOOR, the first microlending community for real estate, todayannounced its headquarters in Atlanta, Georgia. This comes immediately after the company raised $1 millionin seed round funding from angel investors including Michael Olander, Bruce Boehm, Mark Easley Sr. andInception Micro-Angel Fund. The company selected Georgia as its new home to grow its business due to thestate’s progressive stance on crowdfunding policies and citizen-backed real estate development. Thecompany has joined the Atlanta Tech Village and plans to make at least five strategic hires from the Atlantaarea before the end of the year.
“Georgia is the ideal headquarters forGROUNDFLOOR as investment crowdfundinggrows nationally. With the support of the stateand the early adopters behind our pilot projectshere, we’re already seeing how real estatemicrolending can play a role in the developmentof local communities”
GROUNDFLOOR creates new investment opportunities for non-accredited investors and streamlines accessto financing for independent builders looking to fund their next project. Once a project is listed, communitymembers can back builders with secured loans that pay 8-12% annually. For builders, the community makesreal estate financing simple and transparent and provides choice and flexibility to drive economic developmentacross the state of Georgia.“Georgia is the ideal headquarters for GROUNDFLOOR as investment crowdfunding grows nationally. With thesupport of the state and the early adopters behind our pilot projects here, we’re already seeing how real estatemicrolending can play a role in the development of local communities,” said Brian Dally, CEO and co-founder,GROUNDFLOOR. “Georgia is arguably the most forward-thinking state on issues related to crowdfunding, andwe’re proud to help the state establish itself as a birthplace of the real estate crowdfunding economy.GROUNDFLOOR selected Georgia as the state continues to prosper under progressive and innovativelegislation. Following the 2012 housing collapse, Georgia has made significant strides to boost economicgrowth. It is now the number one most competitive state in the nation and the best state for businesses.“GROUNDFLOOR is a fantastic example of the types of business innovation that will continue to buildGeorgia’s economy and create opportunities for our residents,” said Georgia Secretary of State Brian Kemp.“Because of the Invest Georgia Exemption, crowdfunding is taking off in Georgia ahead of other states that are
GROUNDFLOOR Closes $1 Million Seed Funding, Establishes Headquarters in Georgia
Microlending Company Creates New Investment Opportunities For Non-AccreditedInvestors To Develop Local Communities While Generating Mutually Beneficial Returns

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