RealtyShares, San Francisco based real-estate marketplace has raised $20 Million in a funding round led by Union Square Ventures. The funding round also saw participation from existing investors Menlo Ventures and General Catalyst Partners.
RealtyShares lists all the possible investment opportunities in a particular area on the website. It then links the investors with real estate development projects and takes a certain percent of the total deal value. Till now, the portal has been a part of investments worth $130 Million in over 1600 projects. It claims to be one of the most popular realty investment portals in the country right now.
The company partners with the real estate developers whose records are verified, to give a better trust and investment opportunity to the users. It is available to only selected real estate investors, to maintain the quality on both sides.
With the investment raised, the company plans to boost its sales and marketing for the existing product along with targeting institutional investors for newly launched diversified equity fund. It had raised $10 million in last round less than a year ago.