Groundfloor Announces $118M in New Capital, Partnership with Medipower
Atlanta, GA-based Groundfloor has announced a new round of capital totaling $118 million. The mixed funding round includes $5.8 million in equity from Medipower, as well as $7.2 million in equity from more than 3,600 individual investors via SeedInvest and $5.0 million in convertible notes from 86 individual investors via Groundfloor’s own platform.
As part of the strategic partnership, in its first year Medipower plans to invest up to $100 million via Groundfloor’s investment platform and up to an additional $220 million in the second year. Medipower chairman Yair Goldfinger will join Groundfloor’s board.
Medipower will participate in Groundfloor’s real estate loans alongside retail investors, on the same terms.
“Retail investors deserve their share of the same pie on which hedge funds, private equity and all other financially privileged players have been enriched in the modern Wall Street-oriented era,” said Groundfloor co-founder and CEO Brian Dally.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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